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RIL Q1 Results: Profit Falls 7% On Weak Oil Demand, Retail Slowdown

Jul 24 2021, 10:39 AM July 23 2021, 8:21 PM July 24 2021, 10:39 AM Reliance Industries Ltd. s quarterly profit declined as its refining unit saw lower volumes and sales, while its retail arm struggled due to store shutdowns amid the second wave of Covid-19.The Mukesh Ambani-led conglomerate’s profit fell 7% sequentially to Rs 12,273 crore in the quarter ended June, according to its exchange filing. That compares with the Rs 11,889.8-crore consensus estimate of analysts tracked by Bloomberg.Net sales. Reliance Industries Ltd. s quarterly profit declined as its refining unit saw lower volumes and sales, while its retail arm struggled due to store shutdowns amid the second wave of Covid-19.

Mukesh Ambani Fast Facts

Mukesh Ambani Fast Facts CNN Editorial Research Here is a look at the life of Indian billionaire Mukesh Ambani, chairman and managing director of Reliance Industries Limited (RIL). Personal Birth place: Aden, Yemen Father: Dhirubhai Ambani, founder of Reliance Mother: Kokilaben Ambani Children: Akash and Isha (twins); Anant Education: Institute of Chemical Technology at the University of Bombay (now Mumbai), bachelor’s in chemical engineering, 1979; Attended Stanford University, 1979-1980 Lifestyle and Wealth Ambani is a strict vegetarian, teetotaler and an avid fan of Bollywood movies. The Ambanis’ 27-story 400,000 square foot tower home in Mumbai is known as Antilia. It reportedly cost $1 billion to build and boasts a spa, three helipads and a 50-seat theater.

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