Analysts, on average, had expected a profit of 162.58 billion rupees for the latest quarter.Bengaluru: Reliance Industries Ltd, India’s most valuable company, reported a bigger-than-expected drop in quarterly profit on Friday, hurt by a subdued performance at its dominant oil-to-chemicals business.The Mukesh Ambani-led conglomerate’s consolidated profit fell 14.9 per cent to 157.92 billion rupees ($1.95 billion) in the third quarter.It earned 185.49 billion rupees a year earlier, when it benefited from strong refining margins and demand for fuel.Analysts, on average, had expected a profit of 162.58 billion rupees for the latest quarter, according to Refinitiv IBES. ($1 = 81.1100 Indian rupees)(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)Featured Video Of The DayShareChat Lays Off 20% Of Its Workforce
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