Reliance Industries saw its first quarter profit rise 31% to Rs. 13,248 Crore on the back of the gain it made from sale of its 49% stake in the petro retail venture to BP. If this gain of Rs. 4,966 Crore is excluded, then RIL's profit before tax is lower by 41% to Rs. 8,542 Crore for Q1 of fiscal 2021.The company's revenue declined 41% to Rs. 91,238 crore as operations were impacted by the Covid-19 pandemic. Operating Profit, too, fell 12% to Rs. 21,585 crore in the April through June months due to weak earnings in its petrochemicals and refining bsinesses."The severe demand destruction due to global lockdowns impacted our hydrocarbons business, but the flexibility in our operations enabled us to operate at near normal levels and deliver industry leading results" said RIL Chairman Mukesh Ambani.