RIL Q4 profit expands 12.3% on higher refining margins

New Delhi: Reliance Industries on Monday reported a 12.3 percent rise in its March quarter net profit on the back of higher refining and petrochemical margins.

Consolidated net profit in January-March quarter at Rs 8,046 crore, or Rs 27.3 per share, was 12.3 per cent higher than Rs 7,167 crore net profit in the same period a year ago, Reliance said in a statement.

For the full 2016-17 fiscal, the company generated its highest ever annual profit at Rs 29,901 crore. The annual profit was 18.8 per cent higher than the previous year's.

Reliance earned USD 11.5 on turning every barrel of crude oil into fuel in the fourth quarter as compared to a gross refining margin of USD 10.8 per barrel in the same period a year before.