Reliance Industries reports decline in quarterly profits

Reliance Industries says net profits for its fiscal second quarter, ended 30 September 2012, decreased 5.7% compared with the same period of the previous year, to about 53.7 billion Indian rupees ($1 billion). Second-quarter sales increased 15.4%, to Rs932.6 billion. Reliance’s petrochemicals business recorded a 4.7% rise in second-quarter sales compared with the year-ago period, to Rs220.5 billion, with Ebit down 28.2%, to Rs17.4 billion. The petrochemicals business, for the first half of the fiscal year, ended 30 September, recorded an 11.3% rise in sales...

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