Reliance Industries Ltd reports 31% year-on-year rise in net profit during Q1
The company had posted a net profit of Rs 10,104 crore in the corresponding quarter last year
Reliance Industries Limited on Thursday reported a 31 percent rise in consolidated net profit (Rs 13,248 crore) for the quarter that ended on 30 June, 2020.
In the corresponding quarter last year, the company had posted a net profit of Rs 10,104 crore.
Consolidated revenue from operations for the quarter stood at Rs 88,253 crore compared to Rs 1,56,976 crore year-on-year.
The results came after close of the market hours. Shares of Reliance Industries Ltd settled at Rs 2,108.65 apiece, up 0.61 percent on the BSE.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
At the closing bell, the BSE Sensex was at 51,934.88 after losing 2.56 points whereas the NSE Nifty 50 closed at 15,574.85 after witnessing a drop of 7.95 points
The top gainers on the Sensex were Reliance, ICICI Bank, Bharti Airtel, Dr Reddy, and Maruti. The top laggards were Mahindra and Mahindra, Infosys, Larsen and Toubro, IndusInd Bank, and Tech Mahindra
PowerGrid was the top gainer in the Sensex pack, rising around 2 percent, followed by Reliance Industries, ONGC, HCL Tech, Sun Pharma, Infosys and HDFC twins