RIL's Q1 net profit up 28% at Rs 9,108 cr on better refining, petchem biz

Result was much better than street expectations

Mukesh Ambani-led Reliance Industries beat Street expectations with a 28 per cent rise in consolidated first-quarter net profit on improved performance in the refining and petrochemicals business. The company reported a net profit of Rs 9,108 crore during the quarter, up from Rs 7,113 crore in the same period a year ago. 

“Our industry-leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter,” Mukesh Ambani, chairman and managing director, RIL, said in a press statement.

On recently announced plans to invest Rs 40,000 crore in the Krishna-Godavari project in partnership