Reliance Communications slips on weak Q4 results

Reliance Communications has slipped 2% to quote at Rs 48 on the BSE after the company posted a 22% drop in the March quarter net profit owing to lower revenue from voice and data services.

Meanwhile, the company reported a net profit of Rs 1.77 billion ($26.36 million) for its financial fourth quarter to March 31, as against Rs 2.28 billion in the previous year. The total income from operations declined 1.3% to Rs 56.17 billion.

The stock opened at Rs 49.50 and touched a low of Rs 47.85 on the BSE. A total of shares changed hands on the BSE so far.