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RIL share price slides 3% on fall in Q4 net profit

Share price of Reliance Industries opened 1.73% or Rs 25 lower at Rs 1,442 compared to the previous close of Rs 1,467 on BSE


RIL share price slides 3% on fall in Q4 net profit

RIL stock price has gained 2.57% in one week and 36.04 % in one month

Reliance Industries share fell in early trade today after the conglomerate reported  a 37 per cent fall in Q4 net profit. Share price of Reliance Industries opened 1.73% or Rs 25 lower at Rs 1,442 compared to the previous close of Rs 1,467 on BSE. The large cap stock fell up to 3.27% to Rs 1,419 on BSE. Total 5.05 lakh shares changed hands amonting to turnover of Rs 73.32 crore.

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Market cap of the firm stood at Rs 9.17 lakh crore on BSE.

RIL stock trades higher than its 5, 20 and 50 day moving averages but lower than 100 and 200-day moving averages. RIL stock price has gained 2.57% in one week and 36.04 % in one month. However, it is down 3.11% since the beginning of this year.

Net profit for quarter ended March 2020 fell to Rs 6,546 crore, the lowest in three years. In the fourth quarter, the company said it had an exceptional item of Rs 4,267 crore which dented the profit Revenue fell 2.5 per cent to Rs 151,209 crore Net profit excluding exceptional items increased by 3.7 per cent to Rs 10,813 crore, it said This is the second quarter in 2019-20 that saw a dip in profit. It had reported a quarter-on-quarter decline in Q1 FY20.

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