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Shares of Reliance Industries today fell over 4 per cent despite reporting its highest-ever quarterly net profit of Rs 7,290 crore for the three-month period ended December.
After a weak opening, the stock further went down by 4.31 per cent to Rs 998.60 due to profit-booking on the BSE.
On the NSE, the shares slipped 4.44 per cent to Rs 997.25.
Reliance Industries had yesterday reported highest-ever quarterly net profit of Rs 7,290 crore for the three months ended December as the company’s refinery margins surged to seven-year high.
The net profit of Rs 7,290 crore, or Rs 24.8 per share, in October-December was 38.7 per cent higher than Rs 5,256 crore, or Rs 17.8 a share, in the same period a year ago, the company had said in a statement.
Sales, however, fell 24 per cent to Rs 73,341 crore as benchmark crude oil prices declined 42.7 per cent year-on-year.
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