Tata Communications drops on weak Q3 earnings

Net profit for December 2015 quarter dipped 91% to Rs 6.86 crore

Shares of Tata Communications were down over 5% after the company reported 91% drop in consolidated net profit for the quarter ended December 2015 at Rs 6.86 crore compared with Rs 175.63 crore in the same quarter last fiscal.

Income from operations for the quarter under review increased to Rs 5,099.5 crore compared with Rs 4914.51 crore.

The stock opened at Rs 400 and touched a low of Rs 363. At 12:50pm, over 850,000 shares were traded on both the stock exchanges.