Reliance Q1 net rises over 32 per cent to Rs4,851 crore; revenues vault 88 per cent

Reliance Industries Limited (RIL) has reported a 32.3 per cent jump in its fiscal first quarter (April-June 2010-11) net profit, at Rs4,851 crore ($1.0 billion) against Rs3,666 crore in the similar quarter of the previous financial year.

Profit before depreciation, interest and tax zoomed 41.9 per cent to Rs10,064 crore ($2.2 billion) from Rs7,093 crore in the year-before quarter, un-audited financial results of the company released today showed.

RIL reported an 88.1 per cent jump in total revenues for the first quarter at Rs61,007 crore ($13.1 billion) against Rs32,441 crore in the similar quarter of the previous financial year.

Other income was marginally higher at Rs722 crore ($155 million) as against Rs709 crore in the corresponding period of the previous financial year.

Reliance also saw its exports jump 103.5 per cent to ` Rs32,849 crore ($7.1 billion) during the quarter.

During the quarter gross refining margin of the company stood at $7.3 per barrel.