Reliance Profit Misses Analyst Estimates After Gas Output Falls
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Reliance Industries Ltd., India’s biggest company by market value, posted an increase in third-quarter profit that missed analysts’ estimates after natural gas production fell.
Net income in the three months ended Dec. 31 rose 28 percent to 51.4 billion rupees ($1.1 billion), or 15.70 rupees a share, the Mumbai-based explorer and refiner said in a statement yesterday. The average estimate of 17 analysts in a Bloomberg survey was a profit of 52.1 billion rupees.