Reliance Industries Sees 5% Dip in June Quarter Profit

Reliance Industries Ltd reported a 5% decline in its June quarter net profit, attributing the drop to weaker refining margins, fuel cracks, and higher depreciation costs. The net profit stood at Rs 15,138 crore compared to Rs 16,011 crore the previous year. Revenue saw a rise to Rs 2.36 lakh crore.

Reliance Industries Ltd has reported a 5 per cent drop in its net profit for the June quarter. The downturn was primarily due to weak refining margins and fuel cracks, coupled with increased depreciation costs.

The company's consolidated net profit for April-June stood at Rs 15,138 crore, or Rs 22.37 per share, compared to Rs 16,011 crore, or Rs 23.66 per share, during the same period last year, according to a filing with the stock exchange.

Compared to the January-March quarter, profit fell by 20 per cent from Rs 18,951 crore. However, revenue from operations increased to Rs 2.36 lakh crore from Rs 2.10 lakh crore a year earlier.