Reliance Industries Ltd.

Reliance Industries (RIL) has lent Rs 17,300 crore to one of its subsidiary - Reliance Industrial Investments and Holdings, in order to make investments in land, retail and other developing businesses like EIH. Of the total, a tranche of Rs 13,944 crore has been lent to the subsidiary as an interest free loan for investing in all those businesses which are in the developmental stage, which includes investments in retail.

RIL has posted a rise of 31.94% in its net profit at Rs 5,589 crore for the quarter ended March 31, 2013 as compared to Rs 4,236 crore for the same quarter in the previous year. However, total income of the company has decreased marginally by 1.18% at Rs 86,441 crore for quarter under review as compared to Rs 87,477 crore for the quarter ended March 31, 2012.