RIL reports 13.7% rise in Q1 profit on higher refining margins

Reliance Industries Ltd (RIL) on Saturday reported a 13.7 per cent rise in first quarter consolidated net profit on the back of higher refining margins.

Consolidated net profit in April-June quarter at Rs 5,957 crore was 13.7 per cent higher than Rs 5,237 crore in the same period a year ago, the company said in a filing to stock exchanges.

RIL , operator of the world's largest single location refinery complex, earned $8.7 for turning every barrel of crude oil into fuel in the first quarter of this financial year as compared to a gross refining margin of $6.7 a barrel a year ago.

The total income increased from Rs 99,895 crore for the quarter ended June 30, 2013 to Rs 106,614 crore in April-June this year.