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Reliance Communications Net Falls More Than Expected

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Reliance Communications Ltd, India's No.3 mobile phone carrier by customers, reported a bigger-than-expected 44 percent drop in quarterly profit as its heavy debt load continued to weigh on earnings.

Consolidated net profit at the carrier, controlled by billionaire Anil Ambani, fell to Rs 105 crore for its fiscal third quarter ended December, from Rs 186 crore reported a year earlier.

Analysts had expected the company to report a net profit of Rs 183 crore, according the Thomson Reuters I/B/E/S.