Reliance first-quarter profit slips 7%

Reliance Industries Ltd has posted a 7.2% fall in first-quarter profit today.

Indian oil-to-telecom conglomerate Reliance Industries Ltd (RELI.NS) posted a 7.2% fall in first-quarter profit on Friday, hurt by higher expenses. The company, led by billionaire Mukesh Ambani, said consolidated profit fell to 122.73 billion rupees ($1.65 billion) in the quarter ended June 30, from 132.33 billion rupees a year earlier.