RCom shares gain over 4 pc on smart Q3 earnings

Shares of telecom operator Reliance Communications today rose by over 4 per cent after the company reported an 86 per cent jump in consolidated net profit for the third quarter ended December 31, 2014.
RCom's scrip ended the day with a gain of 4.30 per cent at Rs 75.15 on the BSE. During the day, it rallied 6 per cent to Rs 76.40.
At the NSE, it was up 4.23 per cent to end at Rs 75.10.
The company's market capitalisation rose by Rs 771.68 crore to Rs 18,704.68 crore.
In terms of volume, 17.20 lakh shares of the company changed hands at the BSE and over 73 lakh shares were traded at the NSE during the day.

Reliance Communications had on Friday reported an 86 per cent jump in consolidated net profit at Rs 201 crore for the third quarter ended December 31, 2014 helped by lower finance costs and higher margins in telecom services.

The company had posted a net profit of Rs 108 crore in the same quarter a year ago.
The net debt of the company reduced by about Rs 4,000 crore to Rs 36,767 crore at the end of December 2014 from Rs 40,762 crore it posted a year ago.
The company at the end of reported quarter had 3.14 crore Internet subscribers out of which 1.67 crore were 3G customers.

The consolidated revenue of the company increased by 5.4 per cent to Rs 5,435 crore in the reported quarter from Rs 5,157 crore it posted in previous fiscal.