Oil and petrochemicals giant Reliance Industries Ltd (RIL)'s Q1 net profit spiked 10.2%. This rise has been contributed by a rise in refining margins, but is short of market forecasts. Reliance's net profit for the quarter totalled Rs 25.47 billion (US$543 mln) as sales rose 36.6% from a year earlier to Rs 245.66 bln.
Net profit, however, was slightly below analyst forecasts of around Rs 26.86 billion, largely attributed to a 14-day maintenance shutdown of its Jamnagar refinery in May.
21-Jul-06 
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