Latest News | Reliance Net Profit Falls 5 Pc in Q1 on Weak O2C Business
Get latest articles and stories on Latest News at LatestLY. Reliance Industries Ltd on Friday reported a 5 per cent drop in its June quarter net profit, hurt by weak refining margins and fuel cracks as well as higher depreciation cost.
New Delhi, Jul 19 (PTI) Reliance Industries Ltd on Friday reported a 5 per cent drop in its June quarter net profit, hurt by weak refining margins and fuel cracks as well as higher depreciation cost.
The consolidated net profit of Rs 15,138 crore, or Rs 22.37 per share, in April-June was compared to Rs 16,011 crore, or Rs 23.66 a share, in the year-ago period, according to a stock exchange filing by the company.
Sequentially, profit fell 20 per cent when compared to Rs 18,951 crore earnings in the January-March quarter.
Revenue from operation was up at Rs 2.36 lakh crore from Rs 2.10 lakh crore in April-June 2023.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)