Reliance Industries (RIL) on Friday
reported a 18.9 per cent rise in its first quarter net profit at Rs 5,352 crore on back of better refining margins, forex gains and huge treasury income.
This is the third consecutive rise in quarterly profit for the company even as revenue from domestic gas fell.
Oil and gas business revenue fell 42 per cent after weakening nearly 39 per cent in previous quarter, and so was output. However, overseas assets helped compensate for this as US shale gas business reported an 84 per cent rise in revenue.
Overall, RIL reported a 4.6 per cent drop in turnover to Rs 90,589 crore from Rs 94,927 crore a year ago.
RIL posted earnings per share of 16.6 in June quarter compared to Rs 13.8 per share (Rs 4,503 crore profit) in the same period a year earlier.
Other income soared to Rs 2,535 crore during the reporting period from Rs 1,904 crore a year ago, on the back of treasury income and sale investments. Cash balance rose to Rs 93,066 crore from around Rs 83,000 crore as of March 2013.
Other income, mainly treasury-related gains, accounted for around 38 per cent of the pre-tax profit for the quarter.
Gross refining margins improved by 80 US cents to USD 8.4 per barrel from USD 7.6 a barrel during the quarter
With PTI inputs 
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