Refinery boosts Reliance Industries Ltd quarter 1 profits
Mr. Ambani was pleased with his company managing to maintain earnings growth.
By : DC Correspondent
Update: 2016-07-15 19:33 GMT
Mumbai: Reliance Industries Ltd on Friday posted a better than expected quarterly number on the back of strong growth in its refining and petrochemical business.
The company’s net profit jumped 18.1 per cent during the quarter ended June 2016 to Rs 7,113 crore as compared to Rs 6024 crore reported during the same period last year.
RIL’s gross refining margin (GRM), the difference between the cost of a barrel of oil and value of all the products made out of it stood at $11.5 per barrel as against $10.4 per barrel in achieved in June 2015 and $10.8 per barrel reported in March 2016. Mr. Ambani was pleased with his company managing to maintain earnings growth.