Reliance Industries today reported a 16% jump in the March quarter net profit to a record quarterly earning of Rs 7,398 crore on the back of higher
refining and petrochemical margins.
Consolidated net profit of Rs 7,398 crore in January-March is against Rs 6,381 crore in the same period a year ago, the company said in a statement.
RIL earned $10.8 on turning every barrel of
crude oil into fuel compared with a gross refining margin of $10.1 in the fourth quarter of 2014-15. Refining margin outperformed Singapore benchmark by $3.1 per barrel.
The company said it posted a record quarterly consolidated
PBDIT (profit before depreciation, interest, and taxes) of Rs 13,994 crore, up 16.9 per cent.
The retail business achieved sales of Rs 5,781 crore during the quarter, up 21 per cent year-on-year, with EBIT of Rs 131 crore up 26 per cent.
