Shares of India’s most-valuable firm, Reliance Industries (RIL), declined up to 2.5% in trade on Monday, January 19, after its third-quarter (Q3) results missed analysts’ estimates, hurt by the weakness in the retail performance.

RIL share price slumped to ₹1420 on the BSE and was among the top Sensex losers in the morning trade today.

RIL Q3 Results

Billionaire Mukesh Ambani-led Reliance Industries posted a consolidated net profit of ₹18,645 crore for the third quarter, which was below average estimate of ₹19,644 crore, according to estimates by LSEG.