Business

RIL’s Q4 net drops 39% at Rs 6,348 crore

Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.

Reliance Industries on Thursday reported a 38.7 per cent drop in fourth quarter net profit at Rs 6,348 crore on weak energy and petrochemical business.

The company had posted a net profit of Rs 10,362 crore in January-March 2019.

 

Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.

The ratio would be 1:15 at a price of Rs 1,257.

Photograph: Shailesh Andrade/Reuters

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Kaushal Bhardwaj

I am the Founder of Realtimenews, where love to share the ideas and experiences. He has worked as a journalist for a few online website around 2 years. He brings together substantial news bulletins from the field of Technology and Blogging & Marketing.

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