Reliance Industries on Thursday reported a 38.7 per cent drop in fourth quarter net profit at Rs 6,348 crore on weak energy and petrochemical business.

The company had posted a net profit of Rs 10,362 crore in January-March 2019.

Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India. The ratio would be 1:15 at a price of Rs 1,257.

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