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Petrochemicals Help to Drive Reliance Industries' Profits Higher

7:07 AM MDT | October 17, 2011 | Ian Young

Reliance Industries posted a 16% increase in net profits for its fiscal second quarter ended September 30, 2011 compared with the corresponding period of the previous year, to Rs57 billion on sales up 35%, to Rs807.9 billion. Profit before depreciation, interest, and taxes for the quarter increased 9% year on year, to Rs109.5 billion. "The increase in profits was largely driven by improved performance in the refining and petrochemicals business," says Reliance chairman and managing director Mukesh Ambani. Quarterly operating profits at Reliance's...

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