July 30, 2020

Profits at India’s Reliance jump 31%, beating estimates

Mumbai (AFP) – Indian conglomerate Reliance Industries reported a 31 percent jump in quarterly profits Thursday, due to a one-time gain from British oil giant BP’s investment in its fuel retailing business and a strong performance by its telecom arm Jio.The Mumbai-based firm, which is owned by Asia’s richest man, Mukesh Ambani, said its consolidated net profit for the three months through June 30 rose to 132.33 billion rupees ($1.77 billion) from 101.04 billion¬†rupees reported for the same period last year.A Bloomberg survey of analysts had predicted net profit for the quarter to come in at $9…

source https://this.kiji.is/en/661625398039839841?c=648607265489716321

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