Reliance Industries dips post Q3 results

The stock was down 2% at Rs 1,050, extending its Monday's 1% decline on the BSE.

Reliance Industries (RIL) was down 2.5% at Rs 1,050 on the BSE in intra-day trade after the company reported 10% year on year (YoY) growth in its standalone net profit at Rs 8,022 crore for the quarter ended December 31, 2016 (Q3FY17) on account of a higher than expected margins in the refining and petrochemical businesses and a higher other income. The company had reported profit of Rs 7,296 crore in the same quarter last fiscal year.

Income from operations during the quarter under review increased 8.9% at Rs 66,606 crore on YoY basis, while other income rose 32.6%