India's Reliance reports higher profit on one-time gain from BP deal
Reliance, led by Asia's richest man Mukesh Ambani, said consolidated profit rose to 132.33 billion rupees ($1.77 billion) in the three months to June 30, from 101.04 billion rupees a year earlier
FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad, India January 16, 2017. REUTERS/Amit Dave/File Photo
Reliance Industries Ltd on Thursday posted a 31 percent jump in June-quarter profit, as the conglomerate booked a one-time gain of 49.66 billion rupees ($663 million) on an investment by British oil major BP in its fuel marketing business.
Reliance, led by Asia's richest man Mukesh Ambani, said consolidated profit rose to 132.33 billion rupees ($1.77 billion) in the three months to June 30, from 101.04 billion rupees a year earlier.
Revenue from operations fell to 912.38 billion rupees, from 1.62 trillion rupees.
($1 = 74.8965 Indian rupees)
