Indian Reliance posts 5.7% drop in Q2 profit

摘要

London—Indian refining and petrochemical giant Reliance Industries Ltd. reported a 5.7% fall in net profit for the July-September quarter after falling income from its domestic gas fields and weaker petrochemical earnings offset higher refining margins. The Mumbai-based company, October 15, reported a net profit of Rupees 53.76 billion ($1.01 billion) for July-September, the second quarter of its financial year, down 5.7% from Rupees 57.03 billion in the same period of 2011. Net sales amounted to Rupees 903.35 billion, up from Rupees 785.69 billion for the same period a year earlier, the company said.