RIL misses estimates, net down 4.8 per cent to Rs 16,563 crore

RIL’s Q2 profits decline by 4.8% to Rs 16,563 crore, missing Bloomberg consensus estimate. Digital services and upstream business show growth, partially offsetting weak performance by O2C segment. Retail business posts muted performance. This is the sixth straight quarter of profit missing Street estimates. Consolidated revenues marginally rise to Rs 2.35 lakh crore.