Kochi Refineries today reported a 42% increase in net profit at Rs 166 crore for the first quarter ended June 30, 2006 when compared with Rs 116.50 crore in Q1FY06.According to a release issued by the company to the BSE today, total income increased to Rs 5,472.30 crore from Rs 2,214.80 crore in Q1FY06.