The Indian conglomerate's Jio telecoms unit as well as other digital services and its retail business(supermarkets and specialty stores)saw revenues rise by more than 40% on the year.Total net profit for Reliance Industries Ltd.'s calendar 2Q(1Q of its fiscal year)was 101.04B rupees($1.47B).For the refining and marketing segment,earnings before interest and taxes were down by 15% even though revenues were up.While Reliance's average gross refining margin of $8.10/bbl was better than Singapore's complex margin of $3.60/bbl,it was still the poorest margin in four and a half years and represents a 22.9% year-on-year decline and a 1.2% quarter-on-quarter drop.Chairman and Managing Director Mukesh D.Ambani said,”Gasoline margins have been impacted due to weak demand growth,with high pump prices and strong refinery runs leading to rising inventories.”
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