NEW DELHI/BENGALURU (Reuters) – India’s Reliance Industries reported a drop in second-quarter profit on Monday, hurt by weakness at its mainstay oil-to-chemicals business.
The Mukesh Ambani-led conglomerate posted a consolidated profit of 165.63 billion rupees ($1.97 billion) in the quarter ended Sept. 30, compared with 173.94 billion rupees a year earlier.
Analysts were, on average, expecting a profit of 165.61 billion rupees as per LSEG data.
($1 = 84.0300 Indian rupees)
(Reporting by Sethuraman NR and Varun Hebbalalu; Editing by Varun H K)
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