Mukesh Ambani-led Reliance Industries became the first private sector firm to report quarterly revenues exceeding Rs.1-lakh-crore, joining its public sector peer IOCL which is the only other Indian company with this distinction. Major contribution to profitability(70%) came from RIL's core business, with refining and oil-gas business contributing 80% and 1% to total revenues respectively, making RIL a debt-free company again.