Reliance Q1 profit up 13.7 per cent, beats estimates

Mumbai: Reliance Industries (RIL) on Saturday reported a 13.7% rise in first quarter consolidated net profit on the back of higher refining margin.

Consolidated net profit in April-June quarter at Rs. 5,957 crore was 13.7% higher than Rs. 5,237 crore in the same period a year ago, the company said in a filing to stock exchanges.

RIL, operator of the world's largest single location refinery complex, earned $8.7 for turning every barrel of crude oil into fuel in the first quarter of this financial year as compared to a gross refining margin of $6.7 a barrel a year ago.

The total income increased from Rs. 99,895 crore for the quarter ended June 30, 2013 to Rs. 106,614 crore in April-June this year.