Reliance posts big hikes in earnings

摘要

Reliance Industries says that its net profit for the fiscal second quarter ended 30 September increased 12.5% compared with the corresponding period of the previous year, to 81.09 billion Indian rupees ($1.2 billion) on sales up 23.9% to Rs1.01 trillion. Profit before depreciation, interest, and taxes increased 32.2% year-on-year (YOY), to Rs178.96 billion. The results reflect strong underlying fundamentals, notably higher prices and volumes, in Reliance's refining and petrochemical businesses, says Reliance chairman and managing director Mukesh Ambani. "Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter," Ambani says. "