Reliance profit up

MUMBAI: Reliance Industries Ltd reported on Friday a better-than-expected 12.5 per cent rise in its fiscal second-quarter profit, helped by stronger margins in its core refining business. Consolidated net profit rose to INR 67.2 billion for the three months to September 30 from INR 59.72 billion a year earlier, Reliance, controlled by India’s richest man Mukesh Ambani, said in a statement. Analysts on average had expected a net profit of INR 59.47 billion.