Reliance Industries Ltd on Friday reported a more than 19% jump in fourth-quarter profit, as India's most valuable company benefited from strength in its mainstay energy as well as its fast-growing retail businesses.
Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai, India, March 2, 2016. REUTERS/Shailesh Andradeon Friday reported a more than 19% jump in fourth-quarter profit, as India's most valuable company benefited from strength in its mainstay energy as well as its fast-growing retail businesses.
"O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows," Ambani, the company's chairman and managing director, said in a statement. O2C business, which had a great run for two years on higher demand for transportation fuels, was dented by the Indian government's windfall tax on fuel exports.
Consolidated profit rose to 192.99 billion rupees for the three months ended March 31, from 162.03 billion rupees a year earlier.
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