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There is a bad news for Reliance Communications. The company has witnessed a downfall of 5% in its business. The decline has been observed after the company poor performance on financial front. The company registered 84.67% decline in the first quarter of the current fiscal that ended in June.

The shares of RCOM dipped to Rs.160.30 on the BSE due to a decline of 4.64%. Similarly, on the front of NSE, the shares fell to Rs.159.70 following the down of 4.99%.

"The telecom sector is already reeling under pressure due to the additional 3G cost burden, and the results of RCom have also been disappointing. So, the counter is just reacting to poor numbers," SMC Global Vice-President Rajesh Jain said.

The ADAG firm on Friday last week reported a 84.67 per cent fall in its consolidated net profit at Rs 250.89 crore for the April-June quarter this year due to high foreign exchange provisioning.