Reliance Communications shares jump on Q4 net profit

Shares of Reliance Communications (RCom) on Monday soared up to 4.7 per cent after the company reported consolidated net profit of Rs 332 crore for the quarter ended March 31. The scrip, however, pared its gains in afternoon session.

Making a bullish start, RCom share gained 4.49 per cent to touch a high of Rs 68.55 on the Bombay Stock Exchange. At the National Stock Exchange, the scrip soared 4.73 per cent to Rs 68.60.

However, at 1.23 pm, shares of the company were trading 1.28 per cent higher at Rs 66.90 on BSE and 2.21 per cent up at Rs 66.95 at NSE.

On the volume front, 19.09 lakh shares were traded on BSE, while over 73 lakh shares changed hands on NSE.

The company's net profit was Rs 168 crore in the year-ago period. On sequential basis, it was up 78 per cent from Rs 186 crore in October-December quarter last financial year. The board has recommended a dividend of 25 paise per equity share of Rs 5 for the financial year 2011-12.

Meanwhile, the BSE 30-scrip benchmark Sensex was trading at 16,324.21, up 106.39 points at 1.25 pm.

With PTI inputs