Reliance Industries fell nearly 3 percent on Monday after the company's petrochem and refining businesses disappointed in the March-quarter results. The company's Q4 gross refining margin came at its lowest level since Q3FY15.

Share Market Live

NSE

"Refinery and marketing segment performance was impacted by lower crude throughput due to planned maintenance," the company statement said, adding they were also impacted by lower product differentials.

At 9:50 am, the stock was trading at Rs 1,352 per share, down 2.2 percent as compared to 0.7 percent fall in BSE Sensex.

The net profit, however, came in higher than expected supported by revenues from retail and telecom businesses. It reported 9.8 percent year-on-year (YoY) rise in the net profit to Rs 10,362 crore for the quarter ended March. It reported a net profit of Rs 9,438 crore in the year-ago period.

In the full year 2018-19, the company posted a record Rs 39,588 crore net profit on a revenue of Rs 622,809 crore.

Total revenues, including other income, grew 19.4 percent on a YoY basis to Rs 1.54 lakh crore for the quarter ended March compared to Rs 1.29 lakh crore seen in the year-ago period. However, on a sequential basis, it fell by 9.7 percent.

Increase in revenue was primarily on account of strong growth in retail and digital services businesses which grew by 51.6 percent and 61.6 percent, respectively.

The net profit of Jio rose by 64.7 percent on a year-on-year basis to Rs 840 crore as compared to Rs 510 crore in the year-ago period.

Also track all live market updates on CNBC-TV18 Market Blog

First Published:Apr 22, 2019 10:41 AM IST