RIL NET PROFIT RISES 3.6% ON GROSS REFINING MARGINS

Reliance Industries Ltd (RIL) on Monday reported a 3.6% rise in quarterly profit, led by healthy gross refining margins. Consolidated net profit stood at ₹7,506 crore for the three months ended December 31, 2016, from ₹7,245 crore a year earlier. Consolidated revenue came in at ₹84,189 crore, against ₹72,513 crore a year earlier. Standalone net profit was ₹8,022 crore during the quarter. Gross refining margin — what the company earns from turning every barrel of crude oil into fuels — came in at $10.8 per barrel, compared to $10.1 in the September quarter.