Reliance Industries Ltd (RIL) has declared a 12.3% increase in its consolidated March quarter profit, thanks to higher refining margins and better earnings from its petrochemical unit. Increases in oil and petrochemical prices drove up the company's gross consolidated revenues to 45.2% from the same period a year ago.

RIL also reported a higher-than-expected gross refining margin (GRM) of $11.5 per barrel. The bump in profits and revenues have however, been depleted on Reliance Jio, where RIL has invested a staggering Rs1.79 trillion so far in its effort to build market share at the expense of competitors. Consolidated debt as a result has soared to Rs 1.96 trillion compared with Rs 1.8 trillion a year ago.

Aditya Birla Group company UltraTech Cement  reported a 11% decline in its consolidated March quarter net profits. The company logged Rs 726 crore in Q4 net profits this year, against Rs 818 crore over the same period last year, citing higher operational costs and lower realisation. The company had higher freight, power and fuel costs.

Ultracemco also declared a dividend of Rs. 10 per share leading to total outlay of Rs. 330 crore, including a corporate dividend tax of Rs. 56 crore. For the entire FY17,  the company’s consolidated sales increased marginally to Rs. 25,092 crore while net profit was up 10% at Rs. 2,715 crore.