The company’s net sales for the July-September quarter, however, rose 15% to Rs. 90,335 crore against Rs. 78,569 crore in the corresponding period of the previous fiscal.
Revenue from the company’s oil and gas business was down 36.7 % to Rs. 2,254 crore on back of fall in natural gas output.
A sharp decline in gas production from RIL’s KG-D6 fields had seen the company’s profit falling for four previous quarters in a row.
KG-D6 is India’s largest natural gas producing fields.
RIL’s refining margins also saw a fall in the second quarter. RIL said it earned $9.5 (Rs 504) on turning every barrel of crude oil into fuel in the quarter as compared to a gross refining margin (GRM) of $10.1 a barrel in the year ago period.
Commenting on the results, Reliance Industries chairman and managing director Mukesh Ambani said business and financial performance for the first half of FY 2012-13 has been satisfactory despite weakness in global economies and the resultant margin environment.