Reliance Industries Q2 consol net up 12.5 pct, beats estimates

MUMBAI (Reuters) - Reliance Industries Ltd reported on Friday a better-than-expected 12.5 percent rise in its fiscal second-quarter profit, helped by stronger margins in its core refining business.

Consolidated net profit rose to 67.2 billion rupees ($1.04 billion) for the three months to Sept. 30 from 59.72 billion rupees a year earlier, Reliance, controlled by India's richest man Mukesh Ambani, said in a statement.

Analysts on average had expected a net profit of 59.47 billion rupees, according to Thomson Reuters data.

($1 = 64.8550 Indian rupees)

(Reporting by Clara Ferreira Marques and Devidutta Tripathy; Editing by Subhranshu Sahu)