Reliance Industries (RIL) has dipped nearly 3% to Rs 899 in early morning deals on BSE after the company has reported 18.9% year-on-year (yoy) jump in its net profit at Rs 5,352 crore for the quarter ended June 30, 2013 %, as gross refining margin (GRM) rose to $8.4 per barrel compared with $7.6 a barrel in the same period last year.
Net sales however, declined by 4.6% yoy to Rs 87,645 crore mainly due to 42% yoy fall in revenue from its oil and gas business. Gas production from KG D6 block declined 52.9% yoy to 15mmscmd.
Despite lower net sales, RIL’s EBITDA increased by 4.9% yoy to Rs 7,075 crore on account of higher profits from refining and petrochemical segments.
Net sales however, declined by 4.6% yoy to Rs 87,645 crore mainly due to 42% yoy fall in revenue from its oil and gas business. Gas production from KG D6 block declined 52.9% yoy to 15mmscmd.
Despite lower net sales, RIL’s EBITDA increased by 4.9% yoy to Rs 7,075 crore on account of higher profits from refining and petrochemical segments.
