Reliance Industries Reports Fall in Quarterly Profits

Reliance Industries says net profits for its fiscal fourth quarter ended March 31, 2012 decreased 21.2% compared with the same period of the previous year, to about Rs42.3 billion ($813 million). Fourth-quarter sales increased 16.7%, to Rs878.3 billion, however. Reliance’s petrochemicals business segment recorded a 17.7% rise in fourth-quarter sales, to Rs214.1 billion, with Ebit down 17.2%, to Rs21.7 billion. Reliance posted sales of about Rs3.39 trillion for the fiscal year ended March 31, an increase of 31.4% compared with the previous fiscal year...

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