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RIL Q4 results 2020: Reliance Industries Q4 net profit falls 39% to Rs 6,348 crore

RIL Q4 results 2020: Reliance Industries Q4 net profit falls 39% to Rs 6,348 crore

NEW DELHI: Oil to telecom main Reliance Industries (RIL) on Thursday reported a per cent 39 per cent fall in its consolidated web revenue for the fourth quarter (This autumn) ended March 2020 on weak vitality and petrochemical enterprise.
RIL posted a revenue of Rs 6,348 crore in This autumn as in opposition to a web revenue of Rs 10,362 crore posted in the identical interval final 12 months, the corporate mentioned in a regulatory submitting.
When it comes to quarter-on-quarter progress, RIL posted a 45 per cent hunch in web revenue as in comparison with Rs 11,640 crore recorded for the third quarter ended December 31, 2019.
In a press release, Reliance mentioned it was accounting for “stock holding losses within the vitality companies because of the dramatic drop in oil costs accompanied with unprecedented demand destruction as a consequence of COVID-19.”
The corporate introduced a rights concern of Rs 53,125 crore, which it mentioned was the most important in India. The ratio can be 1:15 at a worth of Rs 1,257. The promoter and promoter group of RIL will subscribe to the total extent of their mixture rights entitlement. As well as, they may also subscribe to all of the unsubscribed shares within the concern.
The corporate’s income from operations additionally witnessed a 2.three per cent hunch to Rs 1,39,283 crore, in comparison with a revenue of Rs 1,42,565 crore posted in This autumn of final 12 months.
In the meantime, RIL’s digital arm Jio reported a 177 per cent bounce in fourth quarter web revenue to Rs 2,331 crore.
The telecom enterprise of billionaire Mukesh Ambani had logged a web revenue of Rs 840 crore in the identical quarter final 12 months.
(With company inputs)

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