<div>Energy conglomerate Reliance Industries (RIL) on Saturday (19 July) reported a 13.7 per cent rise in first quarter consolidated net profit, beating street expectations, on the back of higher refining margin. profit, helped by strong revenue growth in its refining and oil and gas businesses.<br /><br />Consolidated net profit in April-June quarter at Rs 5,957 crore was 13.7 per cent higher than Rs 5,237 crore in the same period a year ago, the company said in a filing to stock exchanges.<br /><br />Reliance, controlled by India's richest man, Mukesh Ambani and operator of the world's largest single location refinery complex, earned $8.7 for turning every barrel of crude oil into fuel in the first quarter of this financial year as compared to a gross refining margin of $6.7 a barrel a year ago.<br /><br />The total income increased from Rs 99,895 crore for the quarter ended June 30, 2013 to Rs 106,614 crore in April-June this year.<br /><br />Analysts on average expected the company, which operates the world's biggest refinery complex in a single location in western India, to earn a net profit of Rs 5614 crore, according to Thomson Reuters data.<br /><br /><br />(Agencies)<br /> </div>
