NEW DELHI – Reliance Industries Ltd. 500325 by -0.70% Friday posted a drop in its net profit for the third straight quarter, hurt by the conglomerate's energy business where refining margins remained weak and natural gas output dropped.
Net profit fell 21% to 44.73 billion rupees ($808 million) in the April-June quarter from 56.61 billion rupees a year earlier. Sales, however, rose 13% to 918.75 billion rupees from 810.18 billion rupees.
The average of forecasts from a poll of 11 analysts was for net profit of 43.75 billion rupees on sales of 861.82 billion rupees.
Edited By Cen Fox Post Team
