Reliance Industries posts 9 percent rise in standalone profit

Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted on Thursday a nine percent rise in first-quarter standalone profit, helped by higher margins from its core petrochemicals business.

Profit on a standalone basis, which only accounts for the company`s refining, petrochemicals and oil and gas exploration businesses, rose to 81.96 billion rupees ($1.27 billion) for the three months to June 30, from 75.48 billion rupees a year earlier.

Analysts on average expected the company to post a standalone profit of 79.93 billion rupees, according to Thomson Reuters data.

($1 = 64.4300 Indian rupees)

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