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RIL posts 13.6 percentage drop in Q3 net profit
A press statement from Reliance Industries had today reported a 13.6 percentage decrease in their total profit to Rs 4,440 crore for the third quarter ended December 31, 2011, the net profit was earlier Rs.5,136 in the same period last year.
The Reliance Industries turnover was up 40.2% in the third quarter.
The Chairman and Managing Director of Reliance Industries Mr. Mukesh Ambani said that, “The global nature of our businesses and weakness in economic conditions resulted in reduced earnings in the quarter, particularly in our refining and petrochemicals business.”
He also said that, “Notwithstanding these challenges, Reliance has delivered reasonably robust results, with high operating leverage. Our focus remains on enhancing shareholder value by leveraging an exceptionally strong balance sheet, operating top decile assets and investing prudently in future growth engines,”.
RIL posts 13.6 percentage drop in Q3 net profit
Originally published on: All India Today
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