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Reliance Industries reported 13.6% net income decrease in Q3 FY 2012

February 02/2012

(ril) -- Reliance Industries Ltd reported its financial results for the third quarter and nine months of FY 2012 ended on December 31, 2011. Companys Q3 revenues grew by 40.2% year over year to Indian Rupees (INR) 874.8 billion. But the net profit decreased by 13.6% to INR 44.4 billion versus INR 51.4 billion a year earlier. 

The lower earnings from refining, petrochemical and oil and gas businesses caused by global unfavorable economic conditions were the reason for the decline. Reliance Industries faced sluggish demand and high inventories in Q3 2012 after two successful previous quarters.

Reliance Industries Ltd is the largest private sector company in India. It engages in exploration and production of oil and gas, petroleum refining and marketing, petrochemicals such as polyester, fibre intermediates, plastics and chemicals. The company was established in 1966 and is headquartered in Mumbai, Maharashtra, India.

Author:Anna Larionova
Tags:polyether, oil, gazopererabotka, fibers/filaments, Reliance Industries.
Category:General News
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