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Reliance Industries fiscal Q2 profit climbs 5.1% YOY

Reliance Industries Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 8.34 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 9.13 rupees per share.

EPS rose year over year from 7.95 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.07 billion rupees, an increase of 5.1% from 46.70 billion rupees in the prior-year period.

The normalized profit margin climbed to 4.5% from 4.0% in the year-earlier period.

Total revenue declined 4.9% year over year to 1.098 trillion rupees from 1.155 trillion rupees, and total operating expenses fell 5.9% from the prior-year period to 1.030 trillion rupees from 1.094 trillion rupees.

Reported net income increased from the prior-year period to 59.72 billion rupees, or 10.15 rupees per share, from 58.73 billion rupees, or 10.00 rupees per share.

As of Oct. 13, US$1 was equivalent to 61.02 Indian rupees.