RCom plunges as third quarter profit drops substantially

Anil Ambani led Reliance Communications (RCom) declined on Thursday after itposted a drop of 43.3% in consolidated net profit for the quarter ended Dec. 31, 2012 on the back of higher interest cost.

During the quarter, the consolidated net profit to Rs 1.05 billion for the quarter ended Dec. 31, 2012 as compared with Rs 1.86 billion in the same period lasy year. Interest cost during the quarter jumped 58.8% y-o-y to Rs 6.05 billion. Shares of the company are trading at Rs 84.25, down Rs 3.85, or 4.37% at the Bombay Stock Exchange (BSE) on Thursday at 10:18 a.m.The scrip has touched an intra-day high of Rs 86.75 and low of Rs 83.00. The total volume of shares traded at the BSE is 1,324,912.In the earlier session, the shares rose 0.63%, or Rs 0.55, at Rs 88.10. Currently, the stock is trading down 23.2% from its 52-week high of Rs 109.70 and above 80.79% over the 52-week low of Rs 46.60.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 82.95 5.15 6.21 1 Month 73.25 14.85 20.27 3 Months 56.70 31.40 55.38 6 Months 54.05 34.05 63.00 1 Year 96.20 (8.10) (8.42) Note: Based on previous day closing price.