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RIL stock up 3.5% post Q4 results, helps in maintaining status of most valued company by mcap

Shares of Reliance Industries Ltd on Tuesday rose by 3.5 percent after the company reported a record fourth quarter net profit of Rs 8,046 crore.  


RIL stock up 3.5% post Q4 results, helps in maintaining status of most valued company by mcap

New Delhi: Shares of Reliance Industries Ltd on Tuesday rose by 3.5 percent after the company reported a record fourth quarter net profit of Rs 8,046 crore.

After a positive opening, shares of the company further jumped 3.43 percent to Rs 1,465, its multi-year high, on BSE.

On NSE, the stock went up 3.55 percent to Rs 1,467.75.

The rise in stock price helped RIL maintained the status of most valued company by market capitalisation. Its valuation stood at Rs 4,68,338.25 crore at 1212 hours -- the maximum for any listed company in the country at present.

Reliance Industries yesterday reported a record fourth quarter net profit of Rs 8,046 crore, buoyed by higher earnings from its petrochemicals business and an 8-year high refining margin.

 

Consolidated net profit for the operator of the world's biggest oil-refining complex rose to Rs 8,046 crore, or Rs 27.3 per share, in January-March quarter compared with Rs 7,167 crore net profit in the same period of previous year, it said in a statement.

Operating profit, or earnings before interest and tax, from its petrochemicals segment jumped 26 per cent from a year earlier to Rs 3,441 crore, while that from its refining business was almost flat at Rs 6,294 crore.

From Zee News

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