RIL profit down 1 per cent, still betters estimates

Reliance Industries (RIL), the country s most valued company, on Thursday reported a lower-than-expected 1 per cent fall in net profit (excluding the exceptional items) at Rs 3,874 crore for the fourth quarter ended March 2009 as against Rs 3,912 crore in Q4 of 2007-08. However, the net profit (including the exceptional items) dropped by 9.4 per cent to Rs 3,546 crore on account of falling demand for fuel and lower gains from processing crude oil. The profits were aided by a one-time gain of Rs 993 crore during the quarter on account of interest on cash balance and an insurance ...

More...