Shares of Tata Communications fell by nearly 2 per cent on the Bombay Stock Exchange (BSE) after the company said its consolidated net profit dropped 79.80 per cent to Rs 21.89 crore in the December quarter.
The company had reported a net profit of Rs 108.53 crore for the same period a year ago. Consolidated total income of the company inched up 3.7 per cent to Rs 5,099.5 crore during the quarter under review from Rs 4,914.51 crore in the corresponding period of 2014-15.
Following the development, shares of the company dropped 1.78 per cent to Rs 466.85 a piece on Bombay Stock Exchange.
Shares of the company dipped 5.45 per cent to Rs 383.45 a piece on National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 24,283.15, down 255.85 points, or 1.04 per cent, at 11:10 hours.