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Apr 19, 2014
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Reliance Industries net profit flat despite jump in refining margins
Reliance Industries on Friday posted a flat growth in its net profit at Rs 5,631 crore during the January-March quarter compared to the same period last year, which was largely in line with expectations. Total revenues at Rs 97,807 crore was up 13% on a yearly basis but what surprised the Street was the gross refining margin (GRM) at $9.30 per barrel against analyst expectations of around $8.70-9 per barrel. RIL’s GRM stood at $10.10 per barrel during the same period last year and at $7.60 per barrel in the preceding quarter.
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http://www.financialexpress.com
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