Mumbai: Billionaire Mukesh Ambani-controlled Reliance Industries Ltd (RIL) on Friday reported an 18% increase in its June quarter net profit at 9,459 crore, led by higher petrochemical and refining realizations.

Revenue at the energy-to-telecom conglomerate rose 56.5% to 1.4 trillion against 90,537 crore in the corresponding previous quarter.

According to a Bloomberg poll of nine brokers, RIL was expected to post consolidated net sales of 1.269 trillion for the quarter. A Bloomberg poll of 10 brokers estimated net profit of 9,554 crore.

Gross refining margin, (GRM) or what the company earns from turning every barrel of crude oil into fuel, came in at $10.5/barrel. Analysts had expected RIL’s GRM to be in the range of $10-11/ barrel against the $11.9/barrel it reported a year ago.

RIL is the operator of the world’s biggest oil refinery complex with a refining capacity of 1.24 million barrels of oil per day at Jamnagar in Gujarat.

During the quarter, the Singapore Complex GRM was down 6% year-on-year to $6/barrel against $6.4/ barrel in Q1FY18. Crude oil price, however, continued its upward trend in the April-June quarter. Average Brent crude price was up 48% year-on-year and 11% quarter-on-quarter to $74.5/barrel.

For the June quarter, revenue from the petchem segment increased 58.2% to 40,287 crore, backed by strong year-on-year volume growth.

“Petchem has ramped up fully and there will be no further volume increase," said V. Srikanth, joint chief financial officer of RIL, during a press meet in Mumbai.

Srikanth added that contribution from the consumer business will continue to go up. During the quarter, Ebit (earnings before interest and taxes) from the consumer business was at 21% against 13% last fiscal year.

Its mobile telephony arm Reliance Jio Infocomm Ltd reported a profit of 612 crore for the June quarter, a 19.9% rise on a sequential basis, on the back of a revenue of 8,109 crore from its operations, the company said.

Jio had reported a net profit of 510 crore on the back of a revenue of 7,128 crore during the March quarter.

The Mumbai-headquartered telecom operator added 28.7 million customers during the June quarter, taking the total customer base to 215.3 million at the end of the June quarter.

Its average revenue per user (Arpu) stood at 134.5 per subscriber per month during the quarter. The country’s largest telecom operator by subscribers term, Bharti Airtel Ltd, reported an Arpu of 105 for the June quarter.

“Video consumption drove most of the usage, increasing to 340 crore hours per month on the network," said Anshuman Thakur, head of strategy and planning at Jio.

“We doubled our customer base and most user metrics in the last 12 months," RIL chairman and managing director Ambani said. “FTTH (fibre-to-the-home) and Enterprise services with strong fibre backbone across the country will further establish Jio’s leadership as a digital service provider."

Organized retail reported a 123.7% rise in revenue, at 25,890 crore for the quarter, backed by rapid store expansion.

Ahead of the earnings today RIL shares closed at 1129.60, up 1.73% on BSE, while the Sensex closed at 37,336.85 points, up 0.95%.