Reliance Industries Sheds Over 2% Post March Quarter Results

Reliance Industries shares shed nearly 2 per cent in a weak market after the country's most valuable company posted its Q4 numbers. Reliance Industries, post market hours on Saturday, reported that its net profit rose 108 per cent to Rs 13,227 crore in the quarter ended March 2021 from Rs 6,348 crore during the corresponding period a year ago. On a sequential basis, Reliance Industries' profit rose 1 per cent from Rs 13,101 crore. At 9:50 am, the shares of Reliance Industries were trading at Rs 1957.15,  lower by 1.87 per cent, on the BSE. 

Reliance Industries' revenues from operations rose 11 per cent to Rs 1.55 lakh crore. The oil-to-telecom giant's profit for the financial year came in at record Rs 53,739 crore with growth of 34.8 per cent, Reliance Industries said.

Meanwhile, Reliance Industries digital arm Reliance Jio's net profit during the quarter advanced 0.5 per cent to Rs 3,508 crore and operating profit came in at Rs 8,573 crore. Reliance Jio's average revenue per user (ARPU) fell to Rs 138.2 per subscriber per month as against Rs 151.0 per subscriber per month in the trailing quarter.

The BSE Sensex was trading at 48,429.26, lower by 342 points or 0.70 per cent and the NSE Nifty was at 14,545, down 86.45 points or 0.59 per cent at the time.