Reliance news
29/07/2021 Community Activities
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Mukesh Ambani Reliance Industries' earnings appear to be disappointing in the markets as its shares fell 2.14% at 9.16 in the morning.
The stock price drop comes even as RIL managed to turn a profit amid the pandemic. Reliance's revenue for the fourth quarter ending March 31, 2021, was Rs 172,095 Crore, while its net profit doubled to Rs 14,995 Crore.
But some of the company's main areas of focus appear to have faded. While the Oil to Chemical vertical saw revenue growth of 4.5%, profits were equally reduced despite a one-time gain of Rs 4,420 crore from the sale of petrol pumps.
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