Reliance Industries (RIL) on Thursday reported a fall of 37.2 per cent in its consolidated net profit on an year-on-year (YoY) basis for the January-March quarter of financial year 2019-20, due to an exceptional item.
The consolidated net profit during the fourth quarter of FY 2019-20 declined to Rs 6,546 crore, against Rs 10,427 crore reported during the corresponding period of the previous fiscal,
In a regulatory filing, RIL said: "Net Profit excluding exceptional items increased by 3.7 per cent to Rs 10,813 crore ($ 1.4 billion)... Net Profit including exceptional items decreased by 37.2 per cent to Rs 6,546 crore ($ 0.9 billion)."
The expense on exceptional items stood at Rs 4,267 crore in Q4FY20 mainly on account of impact of Covid-19 and incremental liability towards licence fees.
( With inputs from IANS )