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Share price of Reliance Industries rose up to 1.83% or 29 points to Rs 1,609 in early trade against the previous close of Rs 1,580 on BSE. Later, the stock lost 2.21% or 35 points to Rs 1,545 on profit-booking.


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Reliance Industries share price rises nearly 2% after firm logs record profit in Q3
Share price of Reliance Industries: This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore clocked in the July-September quarter of current fiscal

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Reliance Industries share price rose in early trade today after the Mukesh Ambani-led firm reported a 13.5% rise in Q3 net profit to Rs 11,640 crore  against Rs 10,251 crore in the corresponding quarter last year. This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore clocked in the July-September quarter of current fiscal.

Share price of Reliance Industries rose up to 1.83% or 29 points to Rs 1,609 in early trade against the previous close of Rs 1,580 on BSE. Later, the stock lost 3.39% to Rs 1,527 on profit-booking.It ended 3.08% or 48 points lower at Rs 1,532 on BSE.

The large cap stock has fallen after two days of gain. 6.51 lakh shares changed hands amounting to turnover of Rs 101.58 crore.

RIL share price hit its 52-week high of Rs 1,617 on December 20, 2019 and 52-week low of Rs 1095 on August 8, 2019.

Also read: The new golden goose of Reliance Industries

During the last one year, share price of Reliance Industries has risen 31%. However, during last one month, the stock has seen a decline of 3.11%.  RIL's stellar performance in Q3 came after a turnaround in oil refining business coupled with the continued rise of retail and telecom arms.

In Q3 of FY19, RIL posted consolidated revenue of Rs 1.68 lakh crore in comparison to Rs 1.71 lakh crore in the same period last fiscal.

While oil refining margins rose after six straight quarters of decline, the company opened 415 more retail stores and added 3.7 crore subscribers to its Jio mobile phone service that helped increase the profitability of the venture. But the weakness in its traditional petrochemical businesses continued.

The operator of the world's largest oil refining complex saw pre-tax earnings from the business rise 12 per cent to Rs 5,657 crore in the third quarter of the current fiscal year. It earned $9.2 on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM) of $8.8 per barrel in the October-December 2018. The GRM was, however, lower than $9.4 per barrel earned in July-September 2019.

Stocks in news: Reliance Industries, TCS, HDFC Bank, HCL Tech and more

By Aseem Thapliyal 

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