Shares of Reliance Industries (RIL) dipped 3 per cent to Rs 1,420 on the BSE in the early morning trade on Monday after the company reported a 33.5 per cent decline in its consolidated profit before tax (PBT) at Rs 9,223 crore for the quarter ended March 2020 (Q4FY20) due to pressure in its petrochemicals business, higher expenses and exceptional items.
Meanwhile, RIL on Monday announced that Silver Lake will invest Rs 5,656 crore in Jio Platforms, a wholly-owned subsidiary of the company. This investment values Jio Platforms at an equity value of Rs 4.90 trillion and an enterprise value of Rs 5.15 trillion and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020.
