Reliance Communications slips despite good Q3 numbers

Reliance Communications slips despite good Q3 numbers

Reliance Communications declined 1.69% to Rs 602 at 15:06 IST on BSE, off session's high of Rs 632, despite posting 48.5% rise in consolidated net profit to Rs 1,372.83 crore in Q3 December 2007 over Q3 December 2006.

The company announced results during market hours today 31 January 2008.

Meanwhile, BSE Sensex was down 181.73 points or 1.02% to 17,576.91.

On BSE, 16.24 lakh shares were traded in the counter. The stock had an average daily volume of 17.73 lakh shares in the past one quarter.

The stock hit a high of Rs 632 and a low of Rs 598 so far during the day. The stock had hit a 52 week high of Rs 844 on 10 January 2008 and a 52 week low of Rs 371.25 on 16 March 2007.

India's second biggest listed telecommunication services provider by sales had underperformed the market over the past one month till 30 January 2008, declining 17.35% as compared to the Sensex’s fall of 12.52%. It also underperformed the market in the past one quarter, declining 22.55% as compared to the Sensex’s fall of 9.97%.

The company’s current equity is Rs 1,032 crore. Face value per share is Rs 5.

The current market price of Rs 602 discounts its Q2 September 2007 annualised EPS of Rs 15.68 by a PE multiple of 38.39.

The company’s consolidated total income rose 29.79% to Rs 4,874.2 crore in Q3 December 2007 over Q3 December 2006.

Reliance Communications provides telecommunication services. The company provides wireless, wire line, voice, data and Internet communication services