Explained: Why Reliance Industries shares fell 3% after reporting highest-ever profit
Shares of billionaire Mukesh Ambani-led conglomerate Reliance Industries (RIL) fell 2.7% to ₹1,436.85 on BSE in Monday’s trade despite reporting its highest-ever profit and EBITDA in Q1 results announced on Friday. The ₹30,783 crore profit was significantly boosted by the sale of Asian Paints stake, worth ₹8,924 crore, and lower-than-expected interest expenses and taxes. Multiple brokerages said the numbers missed estimates across key business segments.
