Reliance Industries Q1 net up 17%

<div dir="ltr" style="text-align: left;" trbidi="on"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijcicBe8vOg3fepCZ3BRu9LACK0b6quMLeFcUGw133YNNZlrRT0xBM6ap8HGZqipdYOKY3UYiXdIrQ6kIVAIDuhjF2er5cdHpR-UPDmM-WrcSrNKvah3Kf3mfFXPbIKlewH2bG3H3sPyE/s1600/Reliance-Industries+LOGO+TOLLYANDHRA.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijcicBe8vOg3fepCZ3BRu9LACK0b6quMLeFcUGw133YNNZlrRT0xBM6ap8HGZqipdYOKY3UYiXdIrQ6kIVAIDuhjF2er5cdHpR-UPDmM-WrcSrNKvah3Kf3mfFXPbIKlewH2bG3H3sPyE/s1600/Reliance-Industries+LOGO+TOLLYANDHRA.gif" /></a></div><span id="advenueINTEXT" name="advenueINTEXT">MUMBAI: <a href="http://economictimes.indiatimes.com/reliance-industries/stocks/companyid-13215.cms" target="_blank">Reliance Industries</a>, India's largest listed firm, posted a 16.7 per cent rise in quarterly net profit to its highest ever, but lagged analysts' estimates as slowing gas production weighed on results. <br /> <br /> The company, controlled by billionaire <a href="http://timesofindia.indiatimes.com/topic/Mukesh-Ambani">Mukesh Ambani</a>, said April-June net profit rose to Rs 56.61 billion ($1.28 billion) from Rs 48.51 billion a year ago. <br /> <br /> This included other income of Rs 10.78 billion in the latest fiscal first quarter. <br /> <br /> A Reuters poll of brokerages had forecast quarterly net profit of Rs 57.2 billion. <br /> <br /> Reliance, which operates the world's biggest refining complex in western <a href="http://timesofindia.indiatimes.com/topic/India">India</a>, saw gross refining margins in its fiscal first quarter rise to $10.3 per barrel from $7.3 a year ago, and $9.2 in the previous quarter. <br /> Source :TIMES OF INDIA<br /> Shares in Reliance, valued by the market at $64.4 billion, have declined nearly 17 percent so far in 2011, contributing significantly to the comparative 8 per cent fall in the main index, in which the stock has the heaviest weight. </span></div>

Reliance Industries Q1 net up 17%

MUMBAI: Reliance Industries , India's largest listed firm, posted a 16.7 per cent rise in quarterly net profit to its highest ever, bu...

Read more »