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Reliance Industries Q4 profit up 16 percent topping estimates

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Indian oil to telecoms conglomerate Reliance Industries Ltd posted a 15.9 percent rise in its fourth-quarter earnings on Friday, beating analysts' estimates and boosted by stronger margins in its core oil refining business.Reliance, controlled by India's richest man, Mukesh Ambani, posted a consolidated net profit of 73.98 billion rupees ($1.11 billion) for the three months to March 31, up from 63.81 billion rupees a year ago.Analysts on average were expecting a net profit of 69.48 billion rupee, according to Thomson Reuters data.The gross refining margin on each barrel of ...

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First Published: Fri, April 22 2016. 18:11 IST