Reliance Industries Ltd (RIL) on Friday posted a better than expected quarterly number on the back of strong growth in its refining and petrochemical business.Reliance Industries Ltd (RIL) on Friday posted a better than expected quarterly number on the back of strong growth in its refining and petrochemical business. The company’s net profit jumped 18.1 per cent during the quarter ended June 2016 to Rs 7,113 crore as compared to Rs 6024 reported during the same period last year. RIL’s gross refining margin (GRM), the difference between the cost of a barrel of oil and value of all the products made out of it stood at $ 11.5 per barrel as against $10.4 per barrel in achieved in June 2015 and $10.8 per barrel reported in March 2016.  
“We maintained our earnings growth trajectory during this quarter, as the world grappled with new dimensions of economic uncertainty. “Though regional refining margins trended downwards, our high-conversion refining system was able to take advantage of higher margins on middle distillates and wider discounts on sour crude oils. Our refining business delivered another record China PVC free foam board screw barrel Manufacturers performance and achieved industry-leading GRM. Our petrochemicals business has a wide product portfolio, superior feedstock linkages and serves high-growth end-markets in India. “As a result, we achieved yet another quarter of margin expansion in petrochemicals business and delivered EBIT growth of more than 20.5 per cent YoY,” said Mukesh Ambani, chairman, RIL.end-of