October 17, 2018 / 1:31 PM / 2 months ago

India's Reliance Industries Q2 profit rises 17 pct

Oct 17 (Reuters) - India’s Reliance Industries Ltd on Wednesday posted a higher consolidated profit for the July to September period, helped by a strong profit in its petrochemicals segment.

The conglomerate, whose businesses include refining, petrochemicals, retail and telecommunications, said profit rose 17.3 percent to 95.16 billion rupees ($1.29 billion).

That was slightly below the 95.67 billion rupees average of 11 analyst estimates, according to I/B/E/S data from Refinitiv.

Revenue from operations rose more than 53 percent to 1.46 trillion rupees, Reliance said on Wednesday.

Profit on a standalone basis, which excludes retail and telecoms, rose 7.2 percent from the same period a year earlier to 88.59 billion rupees. ($1 = 73.5550 Indian rupees)

Reporting by Tanvi Mehta in BENGALURU; Editing by Christopher Cushing and Kirsten Donovan

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