Reliance Industries announced a six per cent growth in its net profit to Rs 702 crore for the second quarter ended September. Sales declined seven per cent to Rs 6,234 crore during the same period.
Automaker Telco has reduced its loss by 61 per cent to Rs 61.8 crore in the second quarter ended September, against a loss of Rs 158 crore in the same period last year. Revenues during the same period increased by eight per cent to Rs 2,054 crore.
Almost all refining companies with the exception of Reliance Petroleum have recorded a fall in revenues in the second quarter . The fall in net profits and revenue are being attributed to the sustained fall in demand coupled with a sharp fall in international prices for petroleum products.
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