Reliance slips on fall in net profit

[B. Karthick]

Reliance Industries has slipped 3.5% after reporting a slump in the
net profit.

The stock opened at Rs 1,965, touched a high of Rs 1,970 and then
slipped to a low of Rs 1,915. The scrip is now trading at Rs 1,944,
down 3.5% from the previous close. Around 295,387 shares have been
traded on the BSE so far.

The company reported a fall of 11.5% in net profit to Rs 3,636 crore
for this quarter as compared to Rs 4,110 crore in the previous
quarter, a year ago.

Turnover also saw a major decline, down 23% to Rs 32,056 crore as
compared to Rs 41,579 crore in the previous quarter, a year ago.

B.Karthick
Research Analyst