(ET)
Oil-to-telecom heavyweight Reliance Industries (RIL) on Monday reported 11.54 per cent year-on-year (YoY) jump in consolidated net profit at Rs 8,053 crore for the March quarter.
The oil major had reported a net profit of Rs 7,220 crore in the March quarter of last year. Standalone profit came in at Rs 8,151 crore (up 12.78 per cent YoY), compared with ET Now poll of Rs 8,021 crore. This is the ninth quarter in a row when the company reported a rise in YoY profit growth.
Gross refining margin (GRM) for the quarter came in at $11.5 per barrel, compared with ET Now estimate of $10.4 per barrel. Standalone margins at 17 per cent beat ET Now poll estimate of 16.8 per cent.
