Reliance Industries Reports Record Profits of Rs 6318 crores For Q1 2015-16

Business

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By Sunil Fernandes

Published: Saturday, July 25, 2015, 7:15 [IST]

Reliance Industries reported a good set of numbers for the first quarter ending June 30, 2015, with net profit at a record of Rs 6318 crores.

Gross refining margins also surpassed analyst expectations at a 6 year high of $10.4 per barrel. Revenues at the company came in at Rs 71,412 crores. Check Reliance share price and financials

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, "Our financial performance reflects the benefits of integrated hydrocarbon chain activities in a benign oil price environment.

The sharp increase in demand for transportation fuels helped us realize strong refining margins. Oil product demand globally is estimated to have grown at 1.6 MMBPD YTD, resulting in high refinery runs across all regions. Our petrochemicals business recorded a strong quarterly performance supported by high operating rates and margin strength in the ethylene chain. In our retail business, we have reached significant milestones over the past couple of years and continue the high growth trajectory for this business," the company said in a release.

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