RIL shares up nearly 4% post Q1 earnings

Shares of Reliance Industries Ltd (RIL) today rose by nearly 4 per cent after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to June 30.

The stock after making a positive opening, further jumped 3.85 per cent to Rs 1,587.70 -- its multi-year high -- on BSE.

At NSE, shares of the company went up by 3.86 per cent to Rs 1,588.

On the volume front, 4.94 lakh shares of the company were traded on BSE and over 67 lakh shares changed hands at NSE during the morning trading session.Oil-to-telecom conglomerate Reliance Industries Ltd yesterday reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to June 30 on the back



of higher petrochemical margins and one-time gain from sale of African asset.

Net profit in the April-June quarter of current fiscal at Rs 9,108 crore (Rs 30.8 per share) was 28 per cent higher than Rs 7,113 crore (Rs 24.1 a share) in the same period of the last financial year, RIL said in a statement.

"Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter," it said.

Revenue grew 26.7 per cent to Rs 90,537 crore primarily on account of increase in prices and volumes of refining and petrochemical products, partially offset by lower prices and volumes from oil and gas exploration and production business.