India’s Reliance claims record quarterly profits – Saudi Gazette

India’s Reliance claims record quarterly profits – Saudi Gazette

The Mumbai-based company owned by Asia's richest man Mukesh Ambani said its consolidated net profit for the quarter-ended December rose 13.5 percent to 116 billion rupees ($1.63 billion) from 102 billion rupees reported for the same quarter a year earlier.. MUMBAI - Indian oil-to-telecoms giant Reliance Industries reported record quarterly net profits on Friday, boosted by strong growth in its retail businesses despite falling refining margins.. The company said its gross refining margin, the profit earned from each barrel of crude, was down to $9.2 in the December quarter from $9.4 in the previous quarter.. Reliance is India's most valuable company with a market capitalization of over 10 trillion rupees..