RIL's Q1 net profit rises 4.4% to Rs 6,222 crore

Reliance Industries Ltd on Friday reported 4.4 per cent rise in the June quarter net profit as it earned the highest refining margin in six years.

Consolidated net profit of Rs 6,222 crore (Rs 62.22 billion), or Rs 21.1 a share, in April-June quarter of the current fiscal was 4.4 per cent higher than Rs 5,957 crore (Rs 59.57 billion), or Rs 20.3 per share, in the same period a year ago, the company said.

Its turnover, however, slid 23 per cent to Rs 83,064 crore (Rs 830.64 billion).

Operator of the world's largest refining complex, RIL earned $10.4 on turning every barrel of crude oil into fuel as compared to $8.7 per barrel gross refining margin in the first quarter of the last fiscal.

The gross refining margin in the April-June quarter was highest in six years and topped $10.1 per barrel margin in January-March.

Image: Mukesh Ambani; Photograph: Reuters