Reliance shares fall marginally; mcap declines by Rs 8,862.78 cr

NewsDrum Desk
23 Jan 2023
Reliance shares fall marginally; mcap declines by Rs 8,862.78 cr

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New Delhi: Shares of Reliance Industries on Monday ended marginally lower, after the company reported a 15 per cent decline in net profit for the third quarter.

The stock of the country's most valued firm by market valuation fell 0.54 per cent to settle at Rs 2,429.60 apiece on the BSE.

On the NSE, it went lower 0.60 per cent to end at Rs 2,428 per share.

In volume terms, nearly 2.14 lakh shares were traded on the BSE and over 50 lakh shares on the NSE during the day.

Its market valuation fell by Rs 8,862.78 crore to Rs 16,43,741.53 crore.

The 30-share BSE Sensex benchmark climbed 319.90 points or 0.53 per cent at 60,941.67 on Monday.

On Friday, billionaire Mukesh Ambani's Reliance Industries reported a 15 per cent drop in net profit to Rs 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 Rs 15,792 crore or Rs 23.34 per share, in October-December compares with Rs 18,549 crore, or Rs 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 Rs 2,20,592 crore from Rs 1,91,271 crore in October-December 2021.

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