Reliance Industries Ltd. posted net profit attributable to shareholders of 95.16 billion Indian rupees for the fiscal second quarter ended Sept. 30, up from 81.09 billion rupees in the year-ago period.
EPS for the quarter rose 17.5% to 16.06 rupees from 13.66 rupees in the previous year. The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 16.30 rupees.
The company booked 1.563 trillion rupees in revenues for the quarter, up 54.5% from 1.012 trillion rupees in the previous year. The increase in revenue is primarily due to higher price realizations of petrochemical and refinery products, led by a 44.5% rise in the Brent crude price, Reliance Industries said in a statement.
The refining and marketing segment brought in 987.60 billion rupees in revenue during the quarter, while the petrochemicals unit booked 437.45 billion rupees in revenue.
As of Oct. 17, US$1 was equivalent to 73.40 Indian rupees.