Reliance Q3 FY 13 PAT at Rs 5502 crores; beats estimates

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Reliance Q3 FY 13 PAT at Rs 5502 crores; beats estimates
Reliance Industries has reported better than expected results with a net profit of Rs 5502 crores for Q3 FY 13. Profits have risen largely on the back of spectacular gross refining margins of $9.6 per barrel.

The company has reported sales of Rs 93886 crore for Q3, which again was surprisingly on the higher side.

Attributing the good performance of the company during the quarter, chairman Mukesh Ambani said, "RIL's performance has improved in the quarter with margin expansion in petrochemicals and record earnings in the refining business."

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