Reliance Industries reports net profit of Rs 5,957 crore in Q1(13.7 per cent rise)

Mukesh Ambani-led Reliance IndustriesBSE -0.58 % Ltd (RIL) on Saturday reported a consolidated net profit of Rs 5,957 crore for the first quarter of the current financial year versus Rs 5,237 crore, up 13.7% year-on-year. This is way above the ET Now poll estimate of Rs 5,400 crore. 


The Q1 consolidated sales were reported at Rs 104,640 crore versus Rs 97,503 crore YoY. The Q1 petrochemicals EBIT margin came in at 7.33% versus 7.5% YoY. The refining EBIT margin was 3.89% versus 3.22% YoY. 

The oil and gas EBIT margin came in at 32.78% versus 19.5% YoY. The other income was reported at Rs 1,974 crore versus Rs 2,392 crore YoY. The finance cost was Rs 505 crore versus Rs 938 crore YoY 

Commenting on the results, Mukesh Ambani, Chairman of RILBSE -0.58 % said, "Good results have been achieved despite weak regional refining margins." "We have made significant progress on our growth commitments," he said.