RIL's Q4 PBT falls 33% to Rs 9,223 cr due to pressure in petrochemicals biz

The company looks to raise Rs 53,125 crore through this rights issue, which will be the first by RIL in three decades

Mukesh Ambani promoted Reliance Industries (RIL) reported a 33.5 per cent decline in its consolidated profit before tax (PBT) at Rs 9,223 crore for the quarter ended March 2020 (Q4) due to pressure in its petrochemicals business, higher expenses and exceptional items.
 

Net profit attributable to the owners of the company, after exceptional items was 38.7 per cent lower at Rs 6,348 crore from Rs 10,362 crore in the quarter ending March 2019. The company incurred a one-time loss of Rs 4,245 due to the Covid-19 pandemic induced lockdown and inventory losses because of fluctuations in the global oil prices.