RIL posts 13.7% jump in Q1 profit on strong refining margins

Reliance Industries (RIL) today reported a 13.7 per cent 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 (Rs 59.57 billion) was 13.7 per cent 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 (Rs 998.95 billion) for the quarter ended June 30, 2013 to Rs 106,614 crore (Rs 1066.14 billion) in April-June this year.