Reliance Industries profit down 21% to Rs 4,473 for the quarter ended in June, Latest Stock Price

Reliance Industries profit down 21% to Rs 4,473 for the quarter ended in June, Latest Stock Price

Reliance Industries Ltd posted its third consecutive drop in quarterly profit but beat street expectations as refining margins fell less than expected and treasury gains from its huge cash pile bolstered profits.

Net profit fell 21% to Rs 4,473 crore for the fiscal first quarter ended June from Rs 5661 crore a year earlier, the company said on Friday.

The company posted a better-than-expected gross refining margin of USD 7.6 per barrel for the quarter.

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