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India's Reliance posts $900M quarterly profit

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Posted: Jan 17, 2014 6:44 AM

Updated: Jan 17, 2014 6:44 AM

MUMBAI, India (AP) Indian conglomerate Reliance Industries Ltd. has reported quarterly profits of $900 million and a record income for the year so far on strong energy and retail revenues.

The Mumbai-based company's net profit for the quarter ending Dec. 31 was up just 0.2 percent from the same period the previous year.

It said Friday that profits for the nine months since the start of its fiscal year last April were a record high $2.6 billion.

Reliance chairman Mukesh Ambani said profits were kept steady by its oil refining business and growing retail revenue.

Topics: AS-India-Earns-Reliance

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