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Reliance Industries reports rise in quarterly profits

7:14 AM MDT | April 24, 2013 | Deepti Ramesh

Reliance Industries says that net profits for the company’s fiscal fourth quarter, ended 31 March, increased 31.9% compared with the same period of the previous year, to about 55.89 billion Indian rupees ($1.02 billion). Fourth-quarter sales decreased 1.4%, however, to Rs866.1 billion. Reliance’s petrochemicals business segment recorded a 3.5% rise in fourth-quarter sales, to Rs221.5 billion, with Ebit down 12.8%, to Rs18.9 billion. Reliance posted sales of about Rs3.71 trillion for the fiscal year ended 31 March, an increase of 9.2% compared...

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