MUMBAI (Reuters) - Energy conglomerate Reliance Industries Ltd posted a flat quarterly profit, in line with estimates, hurt by a slimmer margin in its oil refining business.
Reliance, which operates the world's biggest refining complex in western India, said net profit for its fourth quarter ended March 31 rose to 56.31 billion rupees from 55.89 billion rupees a year earlier.
Analysts on average expected a net profit of 56.62 billion rupees, according to Thomson Reuters I/B/E/S.
Average gross refining margin (GRM) dropped to $9.3 per barrel from $10.1 a year earlier.
(Reporting by Aradhana Aravindan; Editing by Prateek Chatterjee)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app