India's top private refiner Reliance Petroleum on Tuesday reported net profit rose 5.5 per cent in January-March from a year earlier, below analyst expectations. Reliance Petroleum, which is in the process of merging with sister company Reliance Industries, posted a net profit of Rs 4.05 billion or 0.78 rupees a diluted share, up from Rs 3.84 billion or 0.74 rupees per diluted share a year earlier.
Reliance Petroleum was expected to post a net profit of Rs 4.2 billion, according to the median estimate in a Reuters poll of 18 brokerages.

Sales rose 1.5 per cent to Rs 76.20 billion from Rs 75.06 billion.
Reliance Petroleum shares were up Re 0.20 or 0.7 per cent at Rs 25.90 rupees on the Bombay Stock Exchange shortly after the results were announced at midday. The Bombay 30-issue benchmark index was virtually flat at the time. Bureau Report