India's Reliance Comm shares fall on Dec quarter earnings

MUMBAI Thu Jan 24, 2013 3:11pm IST

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MUMBAI Jan 24 (Reuters) - Shares in India's Reliance Communications Ltd fell as much as 10.2 percent on Thursday, after India's No.3 mobile phone carrier by customers posted its second consecutive quarterly decline in profit on Wednesday.

Consolidated net profit at the carrier, controlled by billionaire Anil Ambani, fell a sharper-than-expected 44 percent to 1.05 billion rupees ($20 million) for its fiscal third quarter ended December.

Reliance Communications shares were down 8.6 percent at 0933 GMT. They earlier touched a low of 79.1 rupees. (abhishek.vishnoi@thomsonreuters.com)

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