RIL profit jumps 46.3% in June quarter on higher refining margin

The consolidated profit rose to Rs 179.55 billion ($2.25 billion) in the three months ended June 30 compared with Rs 122.73 billion a year earlier

Reliance Industries Ltd on Friday reported a 46.3 per cent jump in profit for the June-quarter, as cheaper Russian crude and strong demand for fuel boosted refining margin at its dominant oil-to-chemical business.

The Mukesh Ambani-led conglomerate said consolidated profit rose to Rs 17,955 crore ($2.25 billion) in the three months ended June 30 compared with Rs 12,273 crore a year earlier.
 

In FY22, the company reported a 47 per cent growth year-on-year (Y-o-Y) in the gross revenue. It was $104.6 billion or Rs 7.92 trillion. For Q4FY22, the consolidated gross revenue for the company stood at Rs 2.32 trillion,