Reliance Industries shares gain over 3 pct after quarterly profit beats estimates

Comments 0
Analysts say Reliance Industries logged profits due to better-than-expected margins in its petrochemical business. Reuters Analysts say Reliance Industries logged profits due to better-than-expected margins in its petrochemical business. Reuters
SummaryReliance Industries met analysts estimates with a 1.5 percent rise in net profit to Rs 54.9 bn.

Shares in India's Reliance Industries Ltd rose 3.1 percent in pre-open trading on Tuesday after its July-September operating profit beat some analysts' estimates due to better-than-expected margins in its petrochemical business.

Reliance Industries (RIL) said late on Monday operating profit in the previous quarter rose by 11 percent on a sequential basis to 78.49 billion rupees ($1.28 billion).

Reliance Industries, which operates the world's biggest oil refining complex in western India, met analysts estimates with a 1.5 percent rise in net profit to 54.9 billion rupees.

($1 = 61.4750 Indian rupees)

Ads by Google

More from FE editor's picks

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...