Strong refining margins lift RIL fourth-quarter profit

MUMBAI (Reuters) - Reliance Industries Ltd on Friday reported a 11 percent rise in fourth-quarter profit, boosted by stronger margins in its core refining business.

The operator of the world's biggest refining complex said net profit rose to 62.43 billion rupees ($1 billion), on a standalone basis, in the three months ended March 31, compared with the 56.31 billion a year earlier.

Analysts, on average, had expected Reliance to report a profit of 58.74 billion rupees, according to Thomson Reuters data.

($1 = 62.3300 rupees)

(Reporting by Aman Shah in Mumbai; Editing by Clara Ferreira Marques)