Reliance well oiled, growing strong in retail and telecom

ET Intelligence Group: Record high regional refining margins and steady growth in consumer businesses helped Reliance Industries NSE 0.68 %, India’s biggest company, post record quarterly operating profits that were in line with Bloomberg consensus estimates.

Net earnings in the June quarter were slightly lower than Street estimates owing to higher effective tax rates and lower-than-budgeted discounts on crude oil sourcing.