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Mukesh Ambani’s RIL Q4 net profit doubles on-year to Rs 13,227 cr, misses estimate

Ahead of Q4 outcomes announcement, RIL share worth fell 1.42 per cent to finish at Rs 1,994.45 apiece on BSE. Image: Reuters

Mukesh Ambani-led RIL’s fourth quarter (January-March) net profit rose 108.36 per cent on-year to Rs 13,277 crore, which is beneath estimates. Oil-to-telecom main had reported a consolidated net profit of Rs 6,348 crore within the year-ago quarter. Earlier within the earlier quarter (October-December 2020), Reliance Industries Ltd had posted a net profit of Rs 13,101 crore. RIL’s consolidated income from operations got here in at Rs 1.54 lakh crore within the fourth quarter, in opposition to Rs 1.39 lakh crore within the corresponding quarter final yr and Rs 1.23 lakh crore within the October-December quarter. Most brokerages reminiscent of Kotak Securities and JM Financial had estimated RIL to report a 100 per cent on-year rise in net profit on a low base. A CNBC TV18 ballot of analysts had estimated RIL to publish a net profit of Rs 14,800 crore on a income of Rs 1.45 lakh crore within the fourth quarter. Brokerage companies reminiscent of Jefferies, Morgan Stanley, UBS and Citi have ‘buy’ score to RIL inventory, with a goal worth of up to Rs 2,600 apiece. Ahead of Q4 outcomes announcement, RIL share worth fell 1.42 per cent to finish at Rs 1,994.45 apiece on BSE. So far in April 2021, RIL share worth has misplaced 1.3 per cent. However, RIL inventory continues to be buying and selling beneath its 52-week-high of Rs 2,368 per share.

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