Shares of Reliance Industries today fell nearly 4 per cent, wiping out Rs 12,613 crore from its market valuation, despite its highest-ever quarterly net profit of Rs 7,290 crore for the December quarter.
RIL's scrip declined 3.76 per cent to settle at Rs 1,004.35 on BSE. During the day, it lost 5 per cent to Rs 990.50 on emergence of profit-booking.
At NSE, shares of the company dipped 3.74 per cent to end at Rs 1,004.55.
Consequently, the company's market valuation fell Rs 12,612.74 crore to Rs 3,25,349.26 crore.
In terms of volume, 11.82 lakh shares of the company changed hands at BSE and over 1 crore at NSE during the day.
The fall in the bellwether weighed on the benchmark Sensex, which plunged 417.80 points, or 1.71 per cent, to close at 24,062.04.
Reliance Industries had yesterday reported its highest-ever quarterly net profit of Rs 7,290 crore for the three months ended December on refinery margins spiking to a seven-year high.
Net profit of Rs 7,290 crore, or Rs 24.8 per share, in October-December was 38.7 per cent higher than Rs 5,256 crore, or Rs 17.8 a share, in the same period a year ago, the company had said in a statement.
Sales, however, fell 24 per cent to Rs 73,341 crore, with benchmark crude oil prices declining 42.7 per cent year-on-year.
