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Mukesh Ambani’s Reliance share price dropped by 2 % after Q4 results
Owing to COVID-19 led crises there is uncertainty in the market. RIL has announced its Q4 results which led the share prices drop by 2 % per cent in early morning trades
India is currently dealing with the second wave of Coronavirus pandemic. Due to the COVID-19 led crises, there is still volatility in the Indian stock markets. Several companies have also contributed towards the volatility with the announcement of their respective Q4 results. Mukesh Ambani-owned Reliance has announced its Q4 results on Friday i.e April 30. And thus the share prices of RIL on Monday dropped by 2 per cent in the early morning trends.
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RIL share price fell as much as 2.5 per cent which traded at the Rs 1,943.70 per share in the Monday morning trades. The company has unleashed its net profit of Rs 13,227 crore for the Jan to Mar quarter, which apparently missed its targets. In September last year, its share prices hit the high records of trading at Rs. 2,368.80 per share.
Reliance announced its financial results on Friday after the markets were closed. The market remained closed on Sat and Sun. Thus it opened with the downtrends on Monday morning. Reliance’s revenue for the fourth quarter ended March 31, 2021 stood at Rs. 172,095 crore, while its net profit doubled to Rs. 14,995 crores.
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