India's Reliance Industries posts 24% rise in Q3 net income

18 January 2013 14:19  [Source: ICIS news]

LONDON (ICIS)--India’s Reliance Industries Ltd (RIL) posted a 24% year-on-year rise in third quarter net profit to Indian Rupees (Rs) 55.02bn ($1.01bn), it said on Friday.

Turnover for the quarter ended 31 December 2012 increased by 10% from the same period in 2011 to Rs963.1bn.

Third-quarter revenue for the company’s petrochemical segment was Rs220.5bn, up from Rs197.8bn in the 2011 third quarter.

“RIL’s performance has improved in this quarter with margin expansion in petrochemicals and record earnings in the refining business,” said Mukesh Ambani, chairman and managing director.

($1 = Rs54.39)


By: Graeme Paterson
+44 20 8652 3214



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