RIL shares up over 2% on robust Q2 earnings

Shares of Reliance Industries Ltd today rose by over 2 per cent in morning trade after the company posted a better-than-expected 1.7 per cent rise in second quarter net profit.
RIL's scrip gained 2.31 per cent to Rs 980 on the BSE.
On the NSE, the stock moved up by 2.2 per cent to Rs 979.
RIL yesterday posted 1.7 per cent rise in its second quarter net profit, helped by strong growth in refining margins which neutralised slump in oil and gas earnings.
Net profit in July-September at Rs 5,972 crore, or Rs 20.3 per share, was 1.7 per cent higher than Rs 5,873 crore, or Rs 20 a share earning in the same period last fiscal.

RIL, the operator of world's biggest oil-refinery complex, earned USD 8.3 for turning every barrel of crude oil into fuel in Q2 as compared to USD 7.7 a barrel gross refining margin a year ago.
The GRM, however, was lower than USD 8.7 per barrel in the previous April-June quarter.
Its turnover dropped 4.3 per cent to Rs 1,13,396 crore due to lower crude oil prices and volumes mainly in the refining and oil and gas business.