New Delhi: Reliance Industries on Friday reported a 16 jump in the March quarter net profit to a record quarterly earning of Rs 7,398 crore on the back of higher refining and petrochem margins.


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Consolidated net profit of Rs 7,398 crore in January-March is against Rs 6,381 crore in the same period a year ago, the company said in a statement.


RIL earned USD 10.8 on turning every barrel of crude oil into fuel compared with a gross refining margin of USD 10.1 in the fourth quarter of 2014-15. Refining margin outperformed Singapore benchmark by USD 3.1 per barrel.


The company said it posted a record quarterly consolidated PBDIT (profit before depreciation, interest, and taxes) of Rs 13,994 crore, up 16.9 percent.


The retail business achieved sales of Rs 5,781 crore during the quarter, up 21 per cent year-on-year, with EBIT of Rs 131 crore up 26 percent.