Reliance Industries Q1 Profit Falls 5% on Weak O2C
Jul 19, 2024 19:32
Reliance Industries' net profit declined by 5% in the June quarter due to weak refining margins and higher depreciation cost. Learn more about the company's financial performance.
New Delhi, Jul 19 (PTI) Reliance Industries Ltd on Friday reported a 5 per cent drop in its June quarter net profit, hurt by weak refining margins and fuel cracks as well as higher depreciation cost.
The consolidated net profit of Rs 15,138 crore, or Rs 22.37 per share, in April-June was compared to Rs 16,011 crore, or Rs 23.66 a share, in the year-ago period, according to a stock exchange filing by the company.
Sequentially, profit fell 20 per cent when compared to Rs 18,951 crore earnings in the January-March quarter.
Revenue from operation was up at Rs 2.36 lakh crore from Rs 2.10 lakh crore in April-June 2023.
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