The reliance company has been on a rollercoaster ride when it comes to the share market as they ae seeing an opening having their shares with a low of 2.14% which is a concern for the company as he has recently lost 2.7 billion of his income in shares already.
The company has announced its financial results on Friday, April 30th after markets were closed. Their revenue in the run of the fourth quarter has stood at Rupees 1,72,095 crores at the end of March 31, 2021, while the net profit of the company has doubled to Rupees 14.995 crore.
The earning of the company are seeming to be a disappointment for many of the investors of the company as the stocks of the company are falling in a drastic manner and has led them to have a dip of 2.14% which was recorded at 9:16 AM.
And to make the situation worse for them the loss has come to a point when even RIL is managing to have considerable profits during the going on pandemic which is pretty decent for them.
As the fourth quarter ended on March 31, 2021, which has stood to be Rupees 1,72,095 crore and the net profit has also doubled which has come out to be Rupees 14,995 crore and some of the major focus areas of the company have seen a little tremble which has made them sheen a little.
The industry of oil to the chemical has seen a potential growth of 4.5% in revenue, the profit is of Rupees 4,420 crores despite which the company is seeing an overall dip which surely means that they are facing some huge losses which is thought of concern for the business tycoon.
Even the very hyped network Reliance Jio has also seen a dip when it comes to the net profit of the service network provider of nearly 4% bagging Rupees 3,508 crore. The company has stated that the scenario has been like this because of the pandemic situation that has been eating the population of the world and right now it is really hurting India’s population and that has been the reason that the company is seeing a loss as a business is at a halt and by that, I mean many of the small businesses are at halt because of the situation and that indirectly affecting the company.
It has been causing a huge discomfort globally which has really made the economy tremble to its core and the financial situation of the country has really been damaged and something needs to be done about the desperate situation as the country is losing many lives which is also going to affect the economy of the country as population and economy are so relatable in many ways.