A shift in investment from bank deposits to instruments like MFs and G-secs has trimmed treasury profit for Reliance Industries to just over 29 per cent of the net income in the June quarter, from 40 per cent for many quarters.

Trading profit, which used to average around 40 per cent in the past many years, has narrowed to just about Rs 1,832 crore which is 29.4 per cent of the overall net income of Rs 6,222 crore in the quarter to June of the Mukesh Ambani-led behemoth, according to the Q1 numbers released by it.

"The proportion of our bank deposits in our overall investments has now come down to about 15 per cent which used to be the highest for long. Now we park most of our cash balance (which stood at over 87,000 crore in Q1) in debt mutual funds, government bonds, etc. Therefore you see a decline in the other income," RIL joint chief financial officer Srikanth Venkatachari said.