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Reliance Industries Records Rise in Third-Quarter Profits

5:20 AM MST | January 25, 2011 | Deepti Ramesh

Reliance Industries says net profits for its fiscal third quarter ended December 31, 2010 increased 28% compared with the same period of the previous year, to about Rs.51.36 billion ($1.12 billion), on sales up 6%, to Rs.624 billion. Reliance’s petrochemicals business segment recorded an 8% rise in third-quarter sales, to about Rs.160 billion with Ebit up 18%, to Rs.24 billion. “Reliance had another record quarter as both refining and petrochemical margins continued to improve and for certain products recorded historic levels,” says Mukesh...

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