April 18, 2019 / 1:09 PM / 2 months ago

India's Reliance Industries posts 10 pct jump in March qtr profit

April 18 (Reuters) - Reliance Industries, India’s biggest publicly listed company by market capitalisation, posted a 9.8 percent rise in quarterly profit, helped in part by its retail businesses.

Net profit rose to 103.62 billion rupees ($1.49 billion) for the quarter ended March, compared with 94.38 billion rupees in the same period last year. Analysts on average expected the oil-to-telecoms conglomerate to post a profit of 99.20 billion rupees, according to Refinitiv data.

Standalone profit, which includes only the company’s oil and gas business, came in at 85.56 billion rupees.

Revenue from operations grew 17.9 percent to 1.42 trillion rupees in the fourth quarter. ($1 = 69.3870 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru and Tanvi Mehta in Mumbai; editing by David Evans)

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