RIL report 24% rise in net profit for December quarter

by Paul Joseph on January 19, 2013 · 0 comments

Mukesh Ambani-led Reliance Industries Limited (RIL) on Friday reported better-than-expected results for the three months through December 2012, driven by higher gross refining margins (GRMs). RIL reported GRM at $9.6 a barrel for the December, considerably up from $6.8 a barrel in the corresponding period of the previous year. Analysts had projects GRM of $8.5 per barrel. GRM can be described as the difference between the price of crude oil and total value of petroleum products generated by a refinery. read more

[via Stock Watch – Stock Specific News]

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