Mukesh Ambani-led Reliance Industries (RIL) today reported a 12.3 per cent rise in its March quarter net profit on the back of higher refining and petrochemical margins.
Consolidated net profit in January-March quarter at Rs 8,046 crore, or Rs 27.3 per share, was 12.3 per cent higher than Rs 7,167 crore net profit in the same period a year ago, the company said in a statement.
For the full 2016-17 fiscal, the company generated its highest ever annual profit at Rs 29,901 crore. The annual profit was 18.8 per cent higher than the previous year's.
Reliance earned USD 11.5 on turning every barrel of crude oil into fuel in the fourth quarter as compared to a gross refining margin of USD 10.8 per barrel in the same period a year before.
RIL overtakes TCS as most valuable company
RIL on Monday regained its position as the most valued company of the country in terms of market capitalisation (m-cap).
The company's shares on the BSE closed higher by 1.19 per cent or Rs 16.65 to Rs 1,416.40 from its previous close at Rs 1,399.75. This lifted RIL's m-cap to Rs 4,60,518.80 crore.
The company overtook Tata Group's multinational IT company Tata Consultancy Services (TCS) in terms of m-cap.
The Tata Group's multinational IT company's shares on BSE gained by 0.77 per cent or Rs 17.90 to Rs 2,329.10 from its previous close at Rs 2,311.20. The company's m-cap stood at Rs 4,58,932.37 crore.
On April 21 also, RIL had overtaken TCS in terms of m-cap during intra-day trade. The company's shares had closed higher by 2.22 per cent to Rs 1,399.75 per share on last Friday with an m-cap at Rs 455,105.33 crore.
