Reliance Industries reports rise in quarterly profits

Ambani: Petrochemicals margin expansion. Reliance Industries says that net profits for the company’s fiscal third quarter, ended 31 December 2012, increased 23.9% compared with the same period of the previous year, to about 55.0 billion Indian rupees ($1.02 billion). Sales increased 10.1%, to Rs963.1 billion. “Reliance’s performance has improved in this quarter with margin expansion in petrochemicals and record earnings in the refining business,” says Mukesh Ambani, chairman and managing director of Reliance. “We are investing over...

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