Mumbai, April 24 -- Reliance Industries Ltd reported a 13% drop in its profit for the January-March period as the US-Israel-Iran war weighed on the company's key oil-to-chemicals (O2C) segment even as contributions from telecom and retail segments remained resilient.

India's most valuable company reported a consolidated profit of Rs.16,971 crore, marginally above the consensus estimate of Rs.16,944 crore of six analysts polled by Bloomberg. Consolidated revenue grew 13% year-on-year (y-o-y) to Rs.2.99 trillion.

However, earnings before interest, taxes, depreciation and amortization (Ebitda) declined marginally to Rs.48,588 crore.

"The numbers are weaker than expected and the main disappointment was the O2C segment," said Harshraj Aggar...