Analysts had expected an average profit of Rs 162.58 billion in the latest quarter.
Bengaluru:
India’s most valuable company, Reliance Industries Ltd, on Friday reported a bigger-than-expected fall in quarterly profit, hurt by a weak performance in its core oil-to-chemicals business.
The consolidated profit of the Mukesh Ambani-led group fell 14.9 per cent to Rs 157.92 billion ($1.95 billion) in the third quarter.
It earned Rs 185.49 billion a year ago, when it benefited from strong refining margins and fuel demand.
Analysts on average had expected a profit of 162.58 billion rupees for the latest quarter, according to Refinitiv IBES. ($1 = 81.1100 Indian Rupees)
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