RIL shares dip 3% post Q3 earnings

New Delhi: Shares of Reliance Industries today fell by almost 3 percent after the company's third quarter earnings failed to cheer investors.

After making a weak opening, shares of the company further lost 2.96 percent to Rs 1,045.05 on BSE.

On NSE, it dipped by 2.98 percent to Rs 1,044.15.

Reliance Industries yesterday reported a 3.6 percent rise in its third quarter net profit after a dip in refinery margins which was offset by robust petrochemical earnings.

Consolidated net profit of Rs 7,506 crore, or Rs 25.4 a share, in October-December, was 3.6 per cent higher than Rs 7,245 crore, or Rs 24.5 per share, in the same period a year back, the company said in a statement.

RIL, which owns the world's largest refining complex, earned USD 10.8 on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM) of USD 11.5 in third quarter of 2015-16 fiscal.

Turnover was up 16.1 percent at Rs 84,189 crore. Standalone profit for the December quarter was up 10 percent at Rs 8,022 crore.