RIL trading firm post Q4 earnings
Net profit fell 21% to Rs 4,236 cr
Reliance Industries (RIL) is trading higher by 1% at Rs 738, after opening 1% lower at Rs 724 on the National Stock Exchange (NSE).
India’s most valued company on Friday after market hours has reported a 21% year-on-year (y-o-y) fall in its net profit to Rs 4,236 crore for the fourth quarter ended March 2012. Total income went up 17% at Rs 85,182 crore on y-o-y basis.
However, India’s most valued company has recorded higher than expected gross refining margins (GRM) of $7.6 for every barrel of crude oil it processed, compared with $9.2 in the corresponding year-ago period. Many analysts expected its GRM to remain flat or fall lower than $6.8 a barrel in the quarter.
The board of directors of the company has recommended a dividend of 85% or Rs 8.50 per fully paid-up equity share of Rs10/- each.
Meanwhile, the company has become a debt-free on entity on a net cash basis by having a total cash balance of Rs 70,252 crore against an outstanding debt of Rs 68,259 crore at the end of the financial year ended March 31, 2012.
A combined 675,000 shares have changed hands on the counter in opening deals on the NSE and BSE.