Reliance Reports Rise in Profits and Sales

Reliance Industries says net profits for its fiscal fourth quarter ended March 31, 2010 increased almost 30% compared with the same period of the previous year, to about Rs47 billion ($1.06 billion) on sales up 125%, to Rs603 billion ($13.5 billion). Reliance’s petrochemicals business segment recorded a 59% rise in fourth-quarter sales, to Rs154.5 billion with Ebit up 30%, to Rs22 billion. The oil and gas business of the company recorded a 487% rise in fourth-quarter sales and 261% rise in fourth-quarter Ebit. Reliance recorded sales of about Rs2 trillion...

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