Mumbai, Jul 20: Reliance Industries today reported 21 per cent drop in net profit in the April-June quarter at Rs 4,473 crore because of falling output at its showpiece gas field off the Andhra coast.
Net profit in the first quarter, 2012-13, at Rs 4,473 crore was down from Rs 5,661 crore in the year-ago period, the company said in regulatory filing to the stock exchanges.
Profit was however higher than Rs 4,236 crore in the fourth quarter, January-March, of last fiscal. The company beat street expectations.
RIL Q1 revenue was up nearly 8 per cent at Rs 91,875 crore. Its other income almost doubled to Rs 1,904 crore.
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