Reliance Industries shares end nearly 2 pct lower post earnings

Jan 20 2014, 17:11 IST
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Shares of Reliance Industries settled nearly 2 pct lower even as the company beat street estimates by reporting a marginal increase in third quarter net profit. Reuters Shares of Reliance Industries settled nearly 2 pct lower even as the company beat street estimates by reporting a marginal increase in third quarter net profit. Reuters
SummaryReliance Industries' scrip finally ended at Rs 869.50, down 1.70 per cent on the BSE Sensex.

Shares of Reliance Industries (RIL) today settled nearly 2 per cent lower even as the company beat street estimates by reporting a marginal increase in third quarter net profit.

After falling 2 per cent to Rs 866.20 in intra-day trade, RIL's scrip finally ended at Rs 869.50, down 1.70 per cent on the BSE Sensex.

At the NSE, the stock went down by 1.89 per cent to close at Rs 868.

The bellwether scrip was the worst performer among the blue-chips on both Sensex and Nifty.

The result was announced after market hours on Friday, January 17, 2014.

"For Q3 FY'14, Reliance Industries (RIL) reported a lower-than-expected top-line performance. However, its bottom- line was broadly in line with our estimate," brokerage firm Angel Broking said in a report.

Reliance Industries, owner of the world's biggest refining complex, on Friday reported a marginal increase in third quarter net profit, helped by a rise in revenue from its non-core business.

Profit rose 0.2 per cent to Rs 5,511 crore, or Rs 17.10 a share, in the October-December quarter from Rs 5,502 crore, or Rs 17 a share, a year earlier.

The markets expected profit to range between Rs 5,310 and Rs 5,350 crore. Earnings were also higher than the Rs 5,490 crore posted in the second quarter.

Sales rose 10.5 per cent to Rs 106,383 crore.

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