Reliance Industries announced its earnings for the second quarter (Q2) ended September 2015 on Friday post market hours. The oil & gas major posted a standalone net profit of Rs 6,561 crore, up 14.28 per cent year-on-year against Rs 5,742 crore in the corresponding quarter a year ago. Standalone total income from operations (net) of the company fell 36.97 per cent yoy at Rs 60,817 crore.

RIL benefited from product mix flexibility, robust risk management coupled with opportunistic crude outsourcing and lower energy cost during the quarter.

Following are 10 key takeaways from Reliance’s September 2015 numbers:

1. Net Profit: For the quarter ended September 30, 2015, Reliance Industries posted a standalone net profit of Rs 6,561 crore, up 14.28 per cent against Rs 5,742 crore in the corresponding quarter a year ago.

On a consolidated basis, the company posted net profit of Rs 6,720 crore, up 12.52 per cent, against Rs 5,972 crore in the same quarter last year. Bottom line of the company jumped 8.49 per cent yoy to Rs 12,942 crore in the first half of the ongoing financial year.

2. Cost of raw material (consolidated): Cost of raw material declined by 49.7 per cent to Rs 41192 crore from Rs 81815 crore on Y-o-Y basis primarily on account of sharp declined in crude oil prices. Brent crude averaged at $50.3 per barrel in Q2 FY16 as compared to $101.8 per barrel in the corresponding period of the previous year.

3. Total income from operations (net): Standalone total income from operations (net) of the company fell 36.97 per cent yoy at Rs 60,817 crore. On a consolidated basis, the figure slid 35.43 per cent year-on-year to Rs 70,901 crore. Total income was at Rs 1,09,797 crore in the same quarter a year ago.

4. Gross Refining Margin: RIL’s gross refining margins (GRM) for 2Q FY16 stood at seven year high of $ 10.6/bbl as against $ 8.3/bbl in 2Q FY15.

5. Employee Cost (consolidated): Employee costs were higher by 13.4 per cent at Rs 1,786 crore as against Rs 1,575 crore in the same period last year. The rise in employee cost can be attributed to increased employee numbers based in subsidiaries.

6. Outstanding Debt (consolidated): Outstanding Debt as on September 30, 2015 stood at Rs 1,72,765 crore ($26.3 billion) compared to Rs 1,60,860 crore as on March 31, 2015.

7. Credit Ratings: RIL retained its domestic credit ratings of AAA from CRISIL and FITCH and an investment grade rating for its international debt from Moody’s as Baa2 and BBB+ from S&P.

8. Cash and cash equivalents: Cash and cash equivalents as on September 30, 2015 were at Rs 85,720 crore. These were in bank deposits, mutual funds, CDs and government bonds and other marketable securities.

9. Exports of refined products: RIL’s exports of refined products from India operations were at Rs 36,163 crore ($ 5.5 billion) during 2Q FY16 as compared to Rs 58,247 crore ($ 9.4 billion) in 2Q FY15. In terms of volume, exports of refined products were 11.1 MMT during 2Q FY16 as compared to 10.7 MMT in 2Q FY15, an increase of 6 per cent.

10. Production and Project update: Panna-Mukta fields produced 1.88 MMBBL of crude oil and 17.2 BCF of natural gas in 2Q FY16, an increase of 7 per cent and 5 per cent respectively on Y-o-Y basis. This is on account of gains from work-over wells and resumption of production from Mukta-A platform despite natural decline of the field. Tapti fields produced 0.03 MMBBL of condensate and 0.6 BCF of natural gas in 2Q FY16, a reduction of 52 per cent and 85 per cent respectively on Y-o-Y basis. Out of six wells planned, drilling of four wells have been completed and put to production. Drilling of remaining two wells is in progress and likely to be completed by end of 3Q FY16. Production from Tapti field is expected to cease in 3Q FY16