Reliance Industries Ltd, India’s most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate’s consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June — the first quarter of the current 2023-24 fiscal year — compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company’s statement.
| Subscribe To Our Free Newsletter |
