Reliance Industries on Friday reported a 13.6 per cent drop in net profit to Rs 4,440 crore for the third quarter ended December 31, 2011.

The company’s net profit stood at Rs 5,136 crore in the same period a year ago, the company said in a press statement here.

The company’s turnover was up 40.2 per cent at Rs 87,480 crore in the third quarter.

RIL Chairman and Managing Director Mukesh Ambani said: “The global nature of our businesses and weakness in economic conditions resulted in reduced earnings in the quarter, particularly in our refining and petrochemicals business.”

“Notwithstanding these challenges, Reliance has delivered reasonably robust results, with high operating leverage. Our focus remains on enhancing shareholder value by leveraging an exceptionally strong balance sheet, operating top decile assets and investing prudently in future growth engines,” he added.

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