Reliance Industries Limited to announce Q1 results today

A meeting of the Board of Directors of the company is scheduled to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended June 30, 2019.

Mumbai: Mukesh Ambani-led Reliance Industries Limited to declare its financial results for Q1 (April-June) of the FY 19-20 on Friday. The results will be announced at 4 pm in Mumbai.

A meeting of the Board of Directors of the company is scheduled to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended June 30, 2019.

The oil-to-telecom conglomerate reported a 9.8 per cent rise in its consolidated net profit at Rs 10,362 crore, or Rs 17.5 per share, in Q4 ended March 31, 2019.

In Q1 of FY 2018-19 Reliance had a turnover of Rs 1,41,699 and the net profit of Rs 9, 459.

On Thursday, shares of Reliance Industries traded flat. Its BSE stocks closed at Rs 1,261.80 INR or 1.54% lower and, in the NSE stocks closed at 16.95 points or 1.32 per cent lower at 1,264.90.

Starting from Infosys on Monday, this week has also seen the results of some of the major IT companies.

After the announcement of the results, Infosys shares jumped 7 per cent. It also increased its market value by Rs 17,636 crores. Infosys posted a net profit of Rs 3,802 crore in its June quarter.

Similarly, IT major Wipro Ltd on Wednesday reported a net profit of Rs 2,387.6 crore in Q1.

After the results of June quarter, Tata Consultancy Services (TCS) shares fell more than 1 per cent. The company's Q1 net profit, Rs 8,131 crore, did not meet the expectations of the market.