Reliance Profit Misses Estimates on High Costs
Reliance Industries reported a quarterly profit of 169.71 billion rupees as rising energy costs and supply chain disruptions weighed on refinery margins. Strong growth in the retail and telecom units helped offset the impact of higher material expenses.
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RELIANCE INDUSTRIES LTD reported a quarterly profit that fell short of market expectations on Friday, as the conglomerate grappled with escalating input costs and significant supply chain disruptions stemming from the ongoing conflict involving Iran. The geopolitical instability in the Middle East has pressured global energy markets and shipping routes, impacting the margins of one of the largest private sector companies in India.
