<p>New Delhi: Shares of Reliance Industries Ltd, India's most valuable company by market valuation, on Monday declined over 3 per cent after the company reported a 5 per cent drop in its June quarter net profit.</p>.<p>The blue-chip stock dropped 3.38 per cent to Rs 3,004.25 on the BSE.</p>.<p>At the NSE, it declined 3.44 per cent to Rs 3,003.25.</p>.<p>Reliance Industries Ltd on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses.</p>.<p>The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in the April-June period -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.</p>.<p>The net profit was also 20 per cent lower quarter-on-quarter when compared to the record Rs 18,951 crore earnings in the preceding three months ended March 31.</p>.<p>Revenue from operations was up 11.5 per cent to Rs 2.57 lakh crore from Rs 2.31 lakh crore in the year-ago period but was lower than Rs 2.64 lakh crore in January-March 2024. </p>
<p>New Delhi: Shares of Reliance Industries Ltd, India's most valuable company by market valuation, on Monday declined over 3 per cent after the company reported a 5 per cent drop in its June quarter net profit.</p>.<p>The blue-chip stock dropped 3.38 per cent to Rs 3,004.25 on the BSE.</p>.<p>At the NSE, it declined 3.44 per cent to Rs 3,003.25.</p>.<p>Reliance Industries Ltd on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses.</p>.<p>The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in the April-June period -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.</p>.<p>The net profit was also 20 per cent lower quarter-on-quarter when compared to the record Rs 18,951 crore earnings in the preceding three months ended March 31.</p>.<p>Revenue from operations was up 11.5 per cent to Rs 2.57 lakh crore from Rs 2.31 lakh crore in the year-ago period but was lower than Rs 2.64 lakh crore in January-March 2024. </p>