New Delhi: Mukesh Ambani group's flagship company Reliance Industries said on Thursday quarterly net profit rose 58 per cent to Rs 2,799 crore in the October-December quarter, up from Rs 1,776 crore in the year-ago period.
Driven by higher margins in petrochemicals, beating analyst forecasts the company posted the total income (net of excise) of Rs 26,514 crore for the third quarter ended December 31. The same was at Rs 18,348 crore for the corresponding quarter a year ago, Reliance Industries informed the Bombay Stock Exchange.
Due to higher product prices and a drop in feedstock prices, petrochemical margins also rose over 35 per cent in the quarter.
In view of the planned shutdown of the refinery during October and November 2005, the figures for the corresponding periods of the previous year are not comparable, said the company.
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