RIL Q1 profit jumps 41% to Rs 19,443 crore
Mumbai: Reliance Industries Ltd NSE 0.68 % (RIL NSE 0.68 %), India’s biggest company by market value, Friday reported a 41% jump in consolidated profit in the June quarter as cheaper Russian crude and robust fuel demand boosted refining margins, while consumer-facing retail and telecom segments also clocked higher revenues.
Net profit came in at ₹19,443 crore, missing Street estimates on higher taxes and lower-than-anticipated discounts on crude oil sourcing. A Bloomberg survey of analysts estimated Reliance NSE 0.68 % to post net profit in excess of ₹22,000 crore. Last year in the April-June quarter, Reliance had reported a net profit of ₹13,806 crore.
