Backed by higher earnings from retail, telecom business, Reliance Industries on Friday reported 13.5% increase in consolidated net profit at a record ₹11,640 crore for the quarter ended 31 December, 2019. The company reported consolidated net profit of ₹10,251 crore in the year-ago period.
The consolidated revenue from operations during the quarter fell 2.5% to ₹1.57 trillion as against ₹1.61 trillion in the year-ago period.
Shares of Reliance Industries on Friday closed nearly 3% higher ahead of scheduled declaration of its December 2019 quarter earnings later in the day.
The scrip of the country’s most valued firm jumped 2.79% to close at ₹1,580.65 on the BSE. During the day, it climbed 3% to ₹1,584.80.
At the NSE, it gained 2.8% to close at ₹1,581.
With the rise in its share price, the company’s market valuation also moved up by ₹27,243.11 crore to ₹10,02,009.11 crore on the BSE.
Source: Livemint
