Friday, May 1, 2020

RIL posts unimpressive numbers

RIL Q4: Healthy growth in Jio and retail, talks with Aramco on ...


Reliance Industries has reported a 33.5 per cent decline in its consolidated profit before tax at Rs 9,223 crore for the quarter ended March 2020 due to pressure in its petrochemicals business, higher expenses and exceptional items.

Net profit, after exceptional items was 38.7 per cent lower at Rs 6,348 crore from Rs 10,362 crore in the quarter ending March 2019. The company incurred a one-time loss of Rs 4,245 due to the Covid-19 pandemic induced lock down and inventory losses because of fluctuations in the global oil prices.

RIL's refining and petrochemical businesses, which was hurt by the corona-virus, declined 18.2 percent sequentially  to Rs 84,854 crore and fell 12.7 percent QoQ to Rs 32,206 crore, respectively.

The stock closed at Rs 1464, up 2.64 percent in Thursday's trade.

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