REUTERS – Oil-to-telecoms conglomerate Reliance Industries Ltd (RELI.NS) posted a 7.3 percent rise in its second-quarter standalone net profit, buoyed by higher margins from its core refining and petrochemical businesses.
Profit on a standalone basis, which includes the company’s refining, petrochemicals and oil and gas exploration businesses, stood at 82.65 billion rupees ($1.27 billion) in the quarter ended Sept. 30, compared with 77.04 billion rupees a year earlier. (bit.ly/2yh8snA)
Analysts on average had expected a standalone profit of 88.05 billion rupees, according to Thomson NS data.
($1 = 64.9550 Indian rupees)
Reporting by Krishna V Kurup in Bengaluru; Editing by Mark Potter