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India’s Reliance’s profit up in Q1, beats estimates

by ChemOrbis Editorial Team - content@chemorbis.com
  • 21/07/2017 (12:29)
According to a release on the company’s website, India’s Reliance Industries’ standalone net profit surged by almost 9% year over year to INR 81.96 billion ($1.27 billion) in the first quarter of 2017, ended on June 30, and beat the analysts’ expectations of a net profit of INR79.93 billion ($1.24 billion).

The company’s standalone net profit indicates the company’s profit only in the refining, petrochemicals and oil and gas exploration businesses.

The improved results mainly stemmed from better margins in the company’s refining and petrochemicals business.
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