Reliance Industries Reports Rise in Profits and Sales

Reliance Industries says net profits for its fiscal fourth quarter ended March 31, 2011 increased 14% compared with the same period of the previous year, to about Rs53.7 billion ($1.2 billion). Sales increased 25%, to Rs753 billion. Reliance’s petrochemicals business segment recorded an 18% rise in fourth-quarter sales, to Rs182 billion with Ebit up 18%, to Rs26 billion. Reliance posted sales of about Rs2.58 trillion ($58 billion) for the fiscal year ended March 31, an increase of 29% compared with the previous year. Higher prices accounted for 18% growth...

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