Reliance Infrastructure, one of the largest infrastructure companies, fell on Tuesday after it announced a sharp drop in standalone net profit for the quarter ended March 2014. 

During the quarter, the profit of the company declined 16.58% to Rs 4,996.60 million from Rs 5,990 million in the same quarter previous year.

Net sales for the quarter declined 30.86% to Rs 27,099 million, compared with Rs 39,193.20 million for the prior year period.

Shares of the company are trading at Rs 721, down Rs 10.75, or 1.47% at the Bombay Stock Exchange (BSE) on Tuesday at 11:45 a.m.

The scrip has touched an intra-day high of Rs 744.10 and low of Rs 708.25. The total volume of shares traded at the BSE is 628,723.

In the earlier session, the shares rose 17.24%, or Rs 107.6, at Rs 731.75. Currently, the stock is trading down 2.44% from its 52-week high of Rs 739 and above 134.09% over the 52-week low of Rs 308.