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India’s Reliance reports 39% climb in Q3 net profit

by ChemOrbis Editorial Team -
  • 20/01/2016 (11:37)
According to media reports, India’s Reliance posted stronger financial results for the third quarter of the Indian fiscal year, which starts on April 1. The company’s net profit climbed 39% to INR72.90 billion ($1.08 billion) in the three months ended in December from INR52.56 billion ($778 million) in the previous year. The company’s Q3 net profit also beat analysts’ projections, which called for a profit of INR70.33 billion ($1.04 billion).

Reliance’s stronger results in the October-December period were driven by improved refining margins. The company reported that its gross profit for processed crude was $11.50/bbl, their highest margin in seven years.
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