As for the refining business, the company surprised on Gross Refining Margins front, reporting it at $11.5 per barrel of oil in the fiscal fourth quarter that ended March 31, up from $10.8/bbl in the same quarter a year ago. The margin was $11.5 per barrel during this quarter, which is much higher than a year ago.
Consolidated net profit for the operator of the worlds biggest oil-refining complex rose to Rs 8,046 crore, or Rs 27.3 per share, in January-March quarter compared with Rs 7,167 crore net profit in the same period of previous year, it said in a statement.
Commenting on the earnings, Mr Ambani said, "Operationally, we continue to scale new heights".
Company says robust growth in retail business driven by rise in refining and petrochemicals products prices.
RIL's operating profit before other income and depreciation increased by 8.8 per cent on Year-on-Year basis to Rs 12,233 crore from Rs 11,248 crore in the previous year.
Standalone petrochemical segment's EBIT (earnings before interest and tax) grew by 2.8 percent quarter-on-quarter to Rs 3,454 crore but its margin contracted by 180 basis points to 13.7 percent.
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However, full year performance of the shale gas business remained impacted by lower volumes and also weak prices in the previous quarters.
The company's outstanding debt at the end of March 31 stoof at Rs 3030 crore.
Jio, the telecom arm of Reliance industries, said that it continued to see a rapid ramp-up of subscriber base and as of March 31, 2017, there were 108.9 million subscribers on its network. Cash and cash equivalents as of March quarter were at Rs 77,226 crore compared to Rs 89,969 crore in same quarter past year, Reliance said.
On a consolidated basis - including newer businesses such as telecom, retail and USA shale gas operations - Reliance's net profit rose 11.1 percent from a year earlier to 80.5 billion rupees.
"Jio is witnessing the largest migration from free to paid services in history", said Mukesh Ambani, the chair and managing director of Reliance Industries. "During the quarter, Reliance Retail added 63 stores across various store concepts", it added.
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