RIL falls more than 2% after March quarter earnings

MUMBAI : Shares of Reliance Industries (RIL) fell as much as 2.54% on Monday despite posting a 108% year-on-year (y-o-y) rise in profit after tax (PAT) for the fourth quarter of FY21 at Rs13,227 crore against Rs6,348 crore for the same quarter last year.

At 3.20 pm, Reliance was trading at Rs1,956.85 down 1.89% from its previous close, while the benchmark index, Sensex lost 0.14% to 48,715.30

Revenue from operations rose 11% y-o-y to Rs1.54 trillion during the quarter compared with ₹1.39 trillion in the year-ago period. The increase in revenue was primarily due to higher volumes in transportation fuels and better price realization across O2C segment. The robust performance by retail segment across all formats also added to growth in revenue.