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India's Reliance Industries reports higher June-qtr profit


Reuters


MUMBAI/BENGALURU, July 19 (Reuters) - Reliance Industries Ltd's profit rose 6.8%, as growth in the Indian conglomerate's retail and telecoms businesses helped offset a slowdown at its mainstay oil refining and petrochemical operations.

Net profit climbed to 101.04 billion rupees$1.47 billion in the three months ended June 30 from 94.59 billion rupees a year earlier, the country's largest company by market value on Friday.

Analysts on average had expected a profit of 96.96 billion rupees, according to Refinitiv data.

Revenue from operations grew 21.3% to 1.61 trillion rupees.

Separately, Reliance Industries also said Canada'sBrookfield Asset Management will invest 252.15 billion rupees ($3.66 billion) in a trust that controls Reliance's telecom tower infrastructure assets.

($1 = 68.8170 Indian rupees)






Referenced Symbols: RELI



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