Coronavirus effect: Reliance witnesses worst profit slump in 11 years as fuel demand falls
Shortpedia
Content Team
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Reliance Industries Ltd, operator of the world’s biggest refining complex, reported a 39% slump in its March quarter profit, the steepest drop since December 2008, as a sharp fall in oil prices and lower fuel demand affected the energy business. The company posted consolidated profit of 63.48 billion rupees in the 3 months ended March 31, missing analysts’ expectation of an average 105.20 billion rupees.
