Reliance Industries stock gains nearly 1% after Q3 results
1 min read . Updated: 23 Jan 2023, 12:07 PM IST
PremiumBillionaire Mukesh Ambani's Reliance Industries on Friday reported 15 per cent drop in net profit to ₹15,792 crore for December 2022 quarter as higher finance costs, the new windfall profit tax and depreciation neutralised strong operating performance.
(PTI) Shares of Reliance Industries gained nearly 1 per cent in morning trade on Monday after the company reported 15 per cent decline in net profit for the third quarter.
The stock of the country's most valued firm by market valuation jumped 0.90 per cent to ₹2,464.80 in early trade on the BSE. On NSE, it gained 0.95 per cent to ₹2,465.75.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported 15 per cent drop in net profit to ₹15,792 crore for December 2022 quarter as higher finance costs, the new windfall profit tax and depreciation neutralised strong operating performance.
The oil-to-retail-to-telecom conglomerate's consolidated net profit of ₹15,792 crore or ₹23.34 per share, in October-December compares with ₹18,549 crore, or ₹28.08 a share, earnings in the same period a year back, the company said in a regulatory filing.
However, its revenue from operations rose to ₹2,20,592 crore from ₹1,91,271 crore in October-December 2021.