Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June – the first quarter of current 2023-24 fiscal year – compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company’s stock exchange filing.
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