Reliance Industries saw net profit for the three months to March rise 12.8% year-on-year as strong margins in its refining and petrochemical businesses helped offset exploration losses. The Mumbai-based refiner, owned by billionaire Mukesh Ambani, posted a net profit of 81.51 billion rupees ($1.26 billion) in the fiscal fourth quarter compared with 72.27 billion rupees a year earlier (IOD Apr.25'16).
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