Reliance Industries reported stronger performance from its energy division in the June quarter. The gains helped counter weaker results in retail and the Jio BP venture.
The energy division benefited from elevated product cracks amid global fuel supply disruptions. These factors are expected to support refining margins in coming periods.
The company plans to achieve peak refinery utilization by diversifying crude sourcing and expanding its oil-to-chemicals operations. Its upstream business is entering a new investment cycle to maintain production levels.
In the clean energy segment, capacity has reached one gigawatt. Battery manufacturing remains on schedule.