Reliance Industries Quarterly Profit Falls 12 Percent
Reliance Industries reported a net profit of 169.71 billion rupees for the quarter ended March 31. Higher material costs and crude prices led to the miss.
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RELIANCE INDUSTRIES LTD reported a 12% decline in consolidated net profit for the fourth quarter ended March 31, falling short of market expectations as the conglomerate faced rising operational headwinds. The company, led by billionaire Mukesh Ambani, posted a net profit of 169.71 billion rupees ($1.80 billion), which significantly missed the average analyst estimate of 201.16 billion rupees compiled by LSEG data.
