Reliance Industries Ltd (RIL) on Friday reported that its consolidated net profit for the first quarter ended June 30, 2015 climbed by 4.4 per cent at Rs 6,222 crore from the same period a year ago even as revenue slipped.
In Q1 FY 2014-15, the company posted a consolidated net profit of Rs 5,957 crore, Reliance Industries Ltd said in a filing to the Bombay Stock Exchange (BSE).
Net revenue on a consolidated basis fell 26 per cent at Rs 77,130 crore in Q1 FY 2015-16 from Rs 104,640 crore in the same period a year ago.
Total expenses on a consolidated basis fell 29 per cent at Rs 69,994 crore in Q1 FY 2015-16 from Rs 98,433 crore in the same period a year ago.
Other income on a consolidated basis declined 7 per cent at Rs 1,832 crore in Q1 FY 2015-16 from Rs 1,974 crore a year ago while finance costs jumped 79 per cent to Rs 902 crore.
Consolidated PBIDT rose about 10 per cent, year on year to Rs 12,095 crore.
Consolidated revenue from the Petrochemicals business fell 18 per cent to Rs 20,858 crore in Q1 FY 2015-16 from Rs 25,398 crore in the same period a year ago while that from the Refining & Marketing business dipped 30 per cent, year on year to Rs 68,729 crore on lower oil prices.
However, Gross Refining Margins for the June 2015 quarter shot up to a six-year high at USD 10.4/bbl compared to USD 8.7/bbl a year ago.
"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", the company said.
Shares of the company ended down 1.97 per cent at Rs 1,025.5 a piece on the BSE on Friday.