Reliance shares down 3 pc after Q3 earnings announcement

New Delhi, Jan 19 (PTI) Shares of Reliance Industries Ltd declined 3 per cent on Monday after the firm reported almost a flat net profit of Rs 18,645 crore for the third quarter, as a decline in gas production and weakness in its retail business offset gains in other segments.

The blue-chip stock edged lower by 3.04 per cent to settle at Rs 1,413.25 on the BSE. During the day, it dropped 3.72 per cent to Rs 1,403.30.

At the NSE, the stock went down by 3 per cent to end at Rs 1,413.60. During the day, it slipped 3.74 per cent to Rs 1,403.30.

The company's market valuation eroded by Rs 60,016.51 crore to Rs 19,12,476.70 crore.

The heavyweight stock was the biggest laggard among the 30-share BSE Sensex firms.

Decline in the stock was a major contributor in dragging the markets lower. The 30-share BSE Sensex declined 324.17 points or 0.39 per cent to settle at 83,246.18. The 50-share NSE Nifty declined 108.85 points or 0.42 per cent to 25,585.50.

Reliance Industries' Q3 earnings were announced on Friday post-market hours.

The country's largest conglomerate saw muted earnings growth in the retail business on GST rate rationalisation, demerger of consumer product business and distribution of festive buying split between two quarters. This offset healthy margins, driving energy and digital businesses.

Its consolidated net profit of Rs 18,645 crore, or Rs 13.78 per share, in October-December - the third quarter of the current 2025-26 fiscal year - compared to Rs 18,540 crore, or Rs 13.70 per share a year back, according to a company statement. PTI SUM SUM DR