Reliance Industries under Ambani ignores the shadow of war in Iran, profits exceed expectations.

Thanks to strong refining profit margins and steady growth in consumer technology business, Reliance Industries' quarterly profit exceeded analysts' expectations. According to a filing with the exchange on Friday, the company's net profit for the three months ended on June 30 fell 22% year-on-year to 209.5 billion rupees. This figure exceeded the average profit expectation of 198.23 billion rupees from a Bloomberg survey of brokerages. The year-on-year profit decline was not surprising, as the data for the same period last year was boosted by a one-time gain from Reliance's sale of its stake in an Asian coatings company.