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Reliance Reports Rise in Quarterly Earnings and Sales

10:06 PM MDT | October 31, 2010 | Deepti Ramesh

Reliance Industries says net profits for its fiscal second quarter ended September 30, 2010 increased 28% compared with the same period of the previous year, to about Rs49.2 billion ($1.1 billion), on sales up 23%, to Rs599.6 billion. Reliance’s petrochemicals business segment recorded a 13% rise in second-quarter sales, to Rs151 billion with Ebit up 0.1%, to Rs22 billion. “Improved refining margins and high operating rates at all our manufacturing facilities led to a record quarter. We are focused on identifying opportunities that leverage...

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