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Reliance reports rise in quarterly profits

7:57 AM MDT | July 19, 2013 | Deepti Ramesh

Reliance Industries says net profits for its fiscal first quarter, ended 30 June, increased 18.8% compared with the same period of the previous year, to about 53.5 billion Indian rupees ($895.0 million). First-quarter sales decreased 4.5%, however, to Rs905.8 billion. Exports increased 3.2% during the first quarter, to Rs570.2 billion. Reliance’s petrochemicals business segment recorded a 0.5% rise in first-quarter sales, to Rs219.5 billion, with Ebit up 7.5%, to Rs18.8 billion. In the petrochemicals business, higher prices accounted for 0.6% growth in...

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