 "Reliance Industries, Reliance, RIL")
Reliance Industries , India's most valuable company, reported third-quarter revenue that missed estimates due to lower price realisation on its refined products and shutdown of units at its refinery.
The Mukesh Ambani-led conglomerate said its consolidated revenue from operations rose 3.6% to Rs 2.28 trillion ($27.45 billion). Analysts had expected revenue of Rs Rs 2.31 trillion, according to LSEG data.
The company's profit rose to Rs 17,265 crore in the quarter ended Dec. 31 from Rs 15,792 crore a year earlier, edging past analysts' estimates of Rs 17,213 crore.
Revenue from the company's oil-to-chemicals unit fell 2.4%, primarily on account of lower price realisation, while planned maintenance and inspection shutdown of units at its Jamnagar refinery complex impacted yields and profitability, Reliance said in a statement.
