Reliance Q1 net down 11.5 pct; misses forecasts
Mumbai: Reliance Industries, India`s top energy firm, on Friday reported an 11.5 per cent fall in quarterly net profit, a sharper drop than the
market had been expecting.
The country`s largest listed company, with a market value of about $66 bn, said its net profit fell to 36.36 billion rupees (USD 754 mn) from 41.1 billion a year ago.
In the quarter ended June, shares in Reliance rose 32.8 percent, while the main index rose by nearly half.
Ahead of the results, Reliance fell 1.2 percent to 2,013.75 rupees in a Mumbai market that rose 1 percent.
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