Shares in Reliance Industries Limited (RIL) declined over 4  percent on the NSE, on the back of its financial results for the December-ended quarter.  A similar stock movement is also seen in BSE too.

Reliance Industries reported a 12.5 percent rise in consolidated net profit at Rs 13,101-Cr for the third quarter of the financial year 2020-21 when compared to Rs 11,640-Cr in the corresponding period last year.

The company's consolidated revenue fell by 22 percent to Rs 128,450 -Cr as compared to Rs 160,447-Cr in the year-ago period. The company said that it reported the highest ever quarterly consolidated profit before exceptional items at Rs 15,015-Cr, while consolidated EBITDA before exceptional items stood at Rs 26,094-Cr.

However, it recorded a sharp fall in revenue at its dominant oil-to-chemicals business. The consolidated revenue from operations declined 22 percent to Rs 1.23 lakh -Cr as against Rs 1.57 lakh-Cr in the year-ago period.

"The outbreak of COVID-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group's operations and revenue during the period were impacted due to COVID-19," Reliance said. "With effect from this quarter, the Reliance Industries will disclose Oil to Chemicals (O2C) as a separate business segment," the conglomerate said in a stock exchange filing.

At 11.20-am, Monday, shares of Reliance Inductees Ltd. quoted at Rs. 1,957.80   per share, down by 4.58 pc from its previous closing.
 

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