Reliance Industries' first quarterly profit increase in five quarters shows a ramp up in output from its gas fields is paying off for India's largest company, and will be a major profit driver in coming quarters.
Margins at Reliance's flagship refining business nearly halved to USD 5.90 a barrel, but still beat market estimates and analysts expect margins to rise as the global economy recovers
.Reliance Industries, India's top refiner and petrochemicals producer, posted an October-December net profit of Rs 40.08 billion, up 15.8% from Rs 34.62 billion a year earlier.
Reliance said the results had been reworked and restated to include figures from Reliance Petroleum, which it absorbed last year.
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