India's largest private sector company, Reliance Industries (RIL) on Thursday reported 14% rise in its standalone net profit to Rs 5,376 crore in the quarter ended March 31, 2011.
The results were below analysts' estimates as flat production from its gas blocks and lower than expected refining margins weighed on results.
The company said it held cash and equivalents worth USD 9.5 billion and had debt of USD 15.1 billion as at end-March.
Reliance, which operates the world's biggest refining complex in western India, saw gross refining margins in its fourth quarter inch higher to USD 9.20 per barrel, up from USD 7.50 per barrel a year earlier and USD 9 in the previous quarter.
Deven Choksey, managing director of KR Choksey Securities said,
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
