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Reliance Industries posts biggest profit in eight years

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Reliance Industries Ltd reported a 15.9 percent rise in fourth-quarter profits on Friday due to strong margins in its oil refining and petrochemicals businesses which account for up to 95 percent of revenues and profits.Reliance, controlled by India's richest man, Mukesh Ambani, posted a consolidated net profit of 73.98 billion rupees ($1.11 billion) for the Jan-March period - it's highest quarterly profit since December 2007.That compares with the 63.81 billion rupees the company reported it earned in the same period last year and the average of analysts' forecasts of ...

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First Published: Fri, April 22 2016. 18:36 IST