MUMBAI: Reliance Industries posted a 32 percent rise in quarterly profit, beating estimates, helped by higher gas output from its fields off India's east coast. ( Watch )
India's largest listed conglomerate with interests in petrochemicals, refining, oil and gas exploration, and retail, posted April-June net profit of Rs 4,851 crore ($1.04 billion) versus Rs 3,666 crore a year earlier.
During the quarter, the country's largest company saw its total income soaring by 85 per cent to Rs 58,950 crore from Rs 31,896 crore in the year-ago period.
Reliance, controlled by billionaire Mukesh Ambani, said the year-ago result had been restated to include figures from Reliance Petroleum, which it absorbed last year.
Shares of Reliance Industries today closed at Rs 1,053.50 on the BSE, up 0.14 per cent from the previous close.
Reliance shares valued at around $74 billion, have fallen 3.4 percent in 2010, while the Mumbai market has gained 3.5 percent.
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