(MENAFN) India's Reliance Industries logged quarterly profits that have surpassed all forecasts as incomes from its key refining and petrochemical operations balanced the effect of a severe drop in international oil prices.
Based on the compiled data, the Mumbai-based energy firm also cashed in from a near 50 percent decline in the cost of raw materials to post a 12.5 percent profit upsurge for the three months to June.
Meanwhile, analysts projected Reliance to record just a 2.4 percent jump in earnings to USD907 million, moreover; the company's Chairman said "refining business performance was notable".
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