Reliance Industries slips over 7% post Q2 results

Reliance Industries slips over 7% post Q2 results

Shares of Reliance Industries NSE -6.88 % (RIL) cracked over 7 percent in Monday’s early trade after the company on Friday posted a 15 percent year-on-year (YoY) fall in the second-quarter net profit as the pandemic hit sales of most of its products. 

The scrip traded 7.04 percent down at Rs 1,909 on BSE around 12.30 pm. However, the company said the demand has recovered in its oil-to-chemicals and retail businesses. Consolidated net profit attributable to owners slipped to Rs 9,567 crore in July-September compared with Rs 11,262 crore a year back.