Reliance Industries posts 13.7% jump in Q1 profit

Reliance Industries (RIL) on Saturday 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 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 USD 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 USD 6.7 a barrel a year ago.

The total income increased from Rs 99,895 crore for the quarter ended June 30, 2013 to Rs 106,614 crore in April-June this year.