<p>Reliance Industries Ltd's profit climbed 12.6% in the last three months of 2020 as its expenses fell, even as the Indian conglomerate recorded a sharp drop in revenue at its dominant oil-to-chemicals business.</p>.<p>Reliance said on Friday its consolidated profit rose to 131.01 billion rupees ($1.79 billion) in the quarter ended December 31 from 116.40 billion rupees a year earlier.</p>.<p>Analysts on average had expected a profit of 110.09 billion rupees, according to IBES data from Refinitiv.</p>.<p>Reliance, which operates the world's largest refining complex, said revenue from the oil-to-chemicals division fell nearly 30% in the quarter from a year earlier. The business houses Reliance's oil refining and petrochemicals operations.</p>.<p>Total expenses fell 22%, while Reliance's overall revenue from operations slid 21% to 1.24 trillion rupees. </p>
<p>Reliance Industries Ltd's profit climbed 12.6% in the last three months of 2020 as its expenses fell, even as the Indian conglomerate recorded a sharp drop in revenue at its dominant oil-to-chemicals business.</p>.<p>Reliance said on Friday its consolidated profit rose to 131.01 billion rupees ($1.79 billion) in the quarter ended December 31 from 116.40 billion rupees a year earlier.</p>.<p>Analysts on average had expected a profit of 110.09 billion rupees, according to IBES data from Refinitiv.</p>.<p>Reliance, which operates the world's largest refining complex, said revenue from the oil-to-chemicals division fell nearly 30% in the quarter from a year earlier. The business houses Reliance's oil refining and petrochemicals operations.</p>.<p>Total expenses fell 22%, while Reliance's overall revenue from operations slid 21% to 1.24 trillion rupees. </p>