Reliance Industries Q4 profit up 8.5 percent at Rs 6,381 cr

Reliance Industries on Friday reported 8.5 per cent rise in the March quarter net profit to Rs 6,381 crore on back of higher refining margins.

"Consolidated net profit of Rs 6,381 crore in January- March is as against Rs 5,881 crore in the same period a year ago," the company said in a statement.

Revenue fell to Rs 67,470 crore from Rs 103,428 crore on slump in oil prices in the fourth quarter of 2014-15 fiscal.

RIL earned $10.1 on turning every barrel of crude oil into fuel as compared to a gross refining margin of USD 9.3 per barrel in the fourth quarter of previous 2013-14 fiscal.

The company announced a dividend of Rs 10 per share.

RIL Chairman and Managing Director Mukesh D Ambani said, "In a time when the collapse of crude oil prices unsettled the hydrocarbons markets, our refining business delivered record earnings. The earnings power demonstrated by our hydrocarbon businesses in this environment validates our philosophy of investing in world-scale, cost competitive assets, cutting- edge technology and the talent of people."