Reliance Industries second-quarter profit rises 1.7 percent

MUMBAI (Reuters) - Reliance Industries Ltd on Monday posted a rise of 1.7 percent in second-quarter profit, helped by strong growth in its U.S. shale business and refining margins.

Net profit was 59.72 billion rupees ($979.1 million) in July-September, up from 58.73 billion rupees a year earlier, the Mumbai-based energy conglomerate said in a statement.

Analysts on average expected the company to report standalone earnings of 56.34 billion rupees, according to Thomson Reuters I/B/E/S.

($1 = 60.9950 Indian rupees)

(Reporting by Aman Shah in Mumbai; Editing by Prateek Chatterjee)