BusinessPhoto: Mint CompaniesReliance's Refining Business Drives 40% Profit Rise in Q2
Reliance Industries Ltd, led by Mukesh Ambani, reported a 40% profit increase to ₹25,548 crore in Q2, surpassing market expectations. Consolidated revenue rose over 25% to ₹3.3 trillion, boosted by strong refining margins amid global processing capacity shortages. Fuel price gaps hit historic highs due to conflicts in West Asia and Ukraine, benefiting Reliance's export-focused refining operations, especially its SEZ-based Jamnagar facility, which is exempt from windfall tax.
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