 "RIL Q1 consolidated net up 18% at Rs 7,113 cr")
Energy-to-retail giant Reliance Industries posted an 18% rise in net profit at Rs 7,113 crore for the quarter ended June 2016 on higher margins from its core refining business. It was Rs 6,024 crore in the same period a year ago.
On Friday, the company's scrip on BSE closed 0.6% higher at Rs 1,012.
The gross refining margin on each barrel of crude processed - a key profitability gauge - was $11.5 in the June quarter, compared with $10.4 a year earlier.
The net revenue declined 15% to Rs 64,990 crore from Rs 76,615 crore in year-ago period on drop in oil prices.
The net revenue declined 15% to Rs 64,990 crore from Rs 76,615 crore in year-ago period on drop in oil prices.
On Friday, the company's scrip on BSE closed 0.6% higher at Rs 1,012.