AFP, Mumbai : Indian conglomerate Reliance Industries on Friday reported a 6.8 percent rise in consolidated net profit despite a slowdown in its oil refining business. The Mumbai-based company owned by Asia's richest man Mukesh Ambani said its consolidated net profit for the three months through June rose to 101.05 billion rupees ($1.47 billion) from 94.59 billion rupees reported for the same quarter a year earlier. "Our first-quarter earnings were strong despite weak global macro-economic environment and challenging hydrocarbon market conditions," Ambani said in a statement. He added that growth in the company's retail and telecoms operations helped boost overall revenues.
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