Reliance Industries Up Over 4 Per cent As Q2 Profit Beats Forecast

Posted By: Religare
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Shares of Reliance Industries rose over 4 per cent on Bombay Stock Exchange (BSE) after the company reported a better-than-expected 12.5 per cent rise in consolidated net profit at Rs 6,720 crore for the quarter ended September on the back of higher refining margin.

Reliance Industries Up Over 4 Per cent As Q2 Profit Beats Forecast
Reliance Industries: Quotes, News
BSE 970.55BSE Quote41.2 (4.25%)
NSE 969.25NSE Quote37.95 (3.92%)

The company had clocked profit of Rs 5,972 crore in the year-ago quarter. The consolidated sales, however, declined 33.8 per cent year-on-year to Rs 75,117 crore from Rs 1,13,396 crore in the September 2014 quarter.

Following the development, shares of company gained 4.58 per cent in intra-day trade to Rs 954 apiece on the BSE.

Shares of the company surged 4.60 per cent to Rs 954.15 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,262.65, up 48.05 points, or 0.18 per cent at 11.20 hours.

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