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RIL net up 17% on refining margins

This article was posted on Jul 26, 2011 and is filed under Market News

Higher gross refining margins helped Reliance Industries (RIL) offset lower oil and gas production and post its highest net profit in over three years.

Meeting forecast, RIL reported a 16.6 per cent increase in net profit at Rs 5,661 crore for the June quarter. Its net profit for the corresponding previous quarter was Rs 4,851 crore.

The company’s gross refining margins (turning every barrel of crude oil into fuel), was up 41 per cent at $10.3 a barrel against $7.3 in the same quarter last year. For more visit: Business Standard

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