MUMBAI (Reuters) - Reliance Industries Ltd posted fourth quarter net profit that rose 32 percent to a higher-than-expected 55.89 billion rupees, helped by stronger margins in its oil refining business.
Reliance, which operates the world's biggest refining complex in Jamnagar, was expected to report a net profit of 54.8 billion rupees for the fiscal fourth quarter that ended on March 31, according to Thomson Reuters data. Profits were 42.4 billion rupees in the same year-ago period.
The company posted an average gross oil refining margin of $10.1 per barrel for the quarter, compared to $7.6 in the same period last year.
(Reporting by Prashant Mehra; editing by Miral Fahmy)
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