Reliance Industries Q2 profit up 7.3 per cent, lags estimates

Mumbai: Oil-to-telecoms conglomerate Reliance Industries Ltd posted a 7.3 per cent rise in its second-quarter standalone net profit, buoyed by higher margins from its core refining and petrochemical businesses.

Profit on a standalone basis, which includes the company's refining, petrochemicals and oil and gas exploration businesses, stood at Rs 82.65 billion (USD 1.27 billion) in the quarter ended September 30, compared with Rs 77.04 billion a year earlier.

Analysts on average had expected a standalone profit of Rs 88.05 billion, according to Thomson Reuters data.