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RIL Q3 Profit Flat Amid Mixed Business Performance
18 Jan
Summary
- Reliance Industries reported a nearly flat Q3 net profit of Rs 18,645 crore.
- Gas production decline and retail weakness offset gains in other RIL segments.
- HDFC Bank's Q3 profit jumped 12.17% to Rs 19,807 crore.
Reliance Industries announced a third-quarter net profit of Rs 18,645 crore, marking nearly flat growth year-over-year. This result stemmed from challenges in gas production and a dip in retail business performance, which counteracted advances in other sectors. The company's consolidated net profit stood at Rs 18,645 crore for the October-December period.
Banking sector results showed varied trends, with HDFC Bank's consolidated profit surging by 12.17% to Rs 19,807 crore. However, ICICI Bank's consolidated net profit saw a slight decline of 2.68%, settling at Rs 12,537.98 crore for the quarter. These results, alongside other corporate earnings, are shaping market sentiment.
Market activity this week is expected to be influenced by a confluence of factors, including ongoing corporate earnings reports, global economic indicators, and foreign fund movements. Geopolitical developments and potential updates on trade negotiations are also key areas of focus for investors heading into the new trading week.
