Reliance Industries (RIL), which is the leading company of Mukesh Ambani group, has come up with its results for its quarter that ended in the month of June 2010.

A net profit of four thousand eight hundred and fifty one rupees had been reported by it. The company had profited three thousand six hundred and thirty six crores in the previous year’s same quarter. The company on a year on year basis recorded a growth of thirty three decimal four two percent.  

The company in its gross refining margin (GRM) made seven decimal three US dollar per barrel. The margins in petrochemicals were in the tune of fourteen decimal eight percent. It recorded a refining margin of four percent and operating margin of sixteen percent.    

According to the statement given to CNBC-TV18 by S P Tulsian of sptulsian.com the 1st quarter performance of RIL will not in any way affect the market or stock to move up. According to him the second quarter result of RIL will not be this much.   

He said that the results look better because as per his expectations, the profit should have been around four thousand seven hundred and thirty five crores of rupees. He said that the gross refining margin at seven decimal three US dollar per barrel is lower than the figure of the earlier quarter that ended in March, which is a decline of twenty percent, if analyzed sequentially. But all said and done the bottom-line is grater than the quarter which ended in the month of March.

According to him petrochemicals have contributed to this, though in gas production no significant rise was seen, but oil production has definitely raised somewhere. RIL is holding thirty percent of stakes in the newly discovered oil block of Panna. All these along with the highest EBIT margin, close to forty percent, are provided by oil and gas sector that have contributed to the profit.