The fiscal started on a strong note for Reliance Industries with record consolidated profit aided by strong gross refining margin in the refining segment and record margin in the petrochemical business.
The key segment of Refining registered 18% year on year growth in topline and reported Gross Refining Margins of $ 11.9/bbl as against $ 11.5/bbl in the previous and the corresponding quarter.
The key segment of Refining registered 18% year on year growth in topline and reported Gross Refining Margins of $ 11.9/bbl as against $ 11.5/bbl in the previous and the corresponding quarter.
Despite flat Singapore Complex Margin, Reliance’s GRM outperformed Singapore complex margins by $ 5.5/bbl. The marginally weaker product cracks were offset by yield shift and robust feedstock management. Favourable Brent-Dubai differential also aided crude sourcing during the quarter.
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