Reliance Industries (RIL) disclosed a good increase in consolidated net profit for the quarter ended June 2017. During the quarter, the profit of the company gained 28.05% to Rs 91.08 billion from Rs 71.13 billion in the same quarter previous year.
 
Revenue for the quarter rose 26.71% to Rs 905.37 billion, compared with Rs 714.51 billion for the prior year period.

Gross refining margins recorded nine-year-high of USD 11.9/bbl whereas petrochemicals EBIT margin were at all-time high of 15.8%.

Cost of raw materials increased by 17.7% to Rs 441.17 billion (USD 6.8 billion) from Rs 374.69 billion on Yo-Y basis primarily on account of increase in crude prices and higher volume of crude processed.

Exports (including deemed exports) from India operations were higher by 11.5% at Rs 371.11 billion (USD 5.7 billion) as against Rs 332.82 billion in the corresponding period of the previous year.

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said, ''Our Company recorded yet another strong quarterly performance with net profit of Rs 91.08 billion, up 28% Y-o-Y. Our industry leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter. Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74%. Jio has revolutionised the Indian telecom and data consumption landscape. This digital services business has been built to address the entire value chain across the digital services domain with smart applications to make life simple, beautiful and secure.

Over the last four decades, Reliance has continued to grow and evolve by creating value through building competitive global scale businesses and delivering increasing shareholder returns. Over the past 3-4 years, we made significant investments in new plants, thus creating organic growth platforms for our energy and materials businesses. Full commissioning of new PX facility at Jamnagar during the quarter will strengthen the integration within our polyester chain. Ramp-up of ethane import project has helped in diversifying feedstock sources and mitigating risks for our existing crackers at Dahej and Hazira. It is our constant endeavor to deliver world-class product and experience to Indian consumers through our retail and digital services businesses, which we believe are game changing initiatives.''

Shares of the company declined Rs 4.8, or 0.31%, to settle at Rs 1,528.70. The total volume of shares traded was 227,482 at the BSE (Thursday).