Shares of Reliance Industries fell by over 1% on profit-taking amid an overall weak broader market even as the company reported highest quarterly profit in seven-and-a-half years on strong refining and petrochemical margins.
The stock opened the day on a positive note but later fell by 1.24% to Rs 1,012.25 on BSE.
At the NSE, shares of the company were down 1.31% to Rs 1,011.55.
On Friday, RIL had reported a standalone net profit of Rs 6,318 crore or Rs 19.5 per share in April-June quarter, which was 11.8 per cent higher than Rs 5,649 crore or Rs 17.5 a share in the same period a year ago.The first quarter profit in the current financial year 2015-16 was highest since earning in October-December 2007.
Revenue fell 26 per cent to Rs 77,130 crore, hurt by a sharp fall in prices of crude oil and petroleum products, the company had said in a statement.
Consolidated net profit rose 4.4% to Rs 6,222 crore in April-June quarter of the current fiscal as against Rs 5,957 crore a year ago, the statement said.
In the broader market, the BSE Sensex was quoting 326.60 points down at 27,760.89.
Source - DNA
No comments:
Post a Comment