Reliance Industries Q2 profit up 7 percent, lags estimates

Oil-to-telecoms conglomerate Reliance Industries Ltd posted a 7.3 percent 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 82.65 billion rupees ($1.27 billion) in the quarter ended Sept. 30, compared with 77.04 billion rupees a year earlier. (http://bit.ly/2yh8snA)

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

($1 = 64.9550 Indian rupees)

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