Reliance Industries Ltd (RIL) reported a 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, 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, or Rs 20.3 per share, in the same period a year ago, the company said in a statement.
Its turnover however slid 23 per cent to Rs 83,064 crore.
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 GRM in the April-June quarter was highest in six years and topped $ 10.1 per barrel margin in January-March.
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