India's Reliance Industries 2Q Profit Up 7%, Lags Estimates
Oct 13 (Reuters) - Indian oil-to-telecoms conglomerate Reliance Industries Ltd 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. (http://bit.ly/2yh8snA)
Analysts on average had expected a standalone profit of 88.05 billion rupees, according to Thomson Reuters data.
($1 = 64.9550 Indian rupees)
(Reporting by Krishna V Kurup in Bengaluru; Editing by Mark Potter)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds