Mukesh Ambani-led Reliance Industries (RIL) posted a 21% decline in its net profit at Rs 4,236 crore for the fourth quarter ended March 31, 2012.
The oil major had a net profit of Rs 5,376 crore in the same period last fiscal, RIL said in a filing to the Bombay Stock Exchange (BSE).
Total income of the company rose by 18.87% to Rs 87,477 crore for the quarter under review from Rs 73,591 crore in the same period last fiscal.
However, other income of the company zoomed 150% to Rs 2,295 crore as compared to Rs 917 crore during the quarter under review.
Gross refining margins (turning every barrel of crude oil into fuel) for the country's most valued firm stayed at $7.6 per barrel, against the corresponding previous quarter's $9.2 a barrel, but more than the $6.80 it reported in the December quarter.
The company baord recommended a dividend of Rs 8.50 per fully paid-up equity share of Rs 10 each.
For the year ended March 31, 2012, the company's consolidated net profit rose over 2% to Rs 19,724 crore from Rs 19,294 crore in the 12-month period last fiscal.
Consolidated total Income of the company increased to Rs 3,64,625 crore from Rs 2,68,414 crore.
Earnings per share (EPS) of the company stood at Rs 61.2 as against previous year's Rs 62.
Commenting on the results, Mukesh Ambani, chairman and managing director of the company said: "Our businesses have delivered industry leading performances. This is reflaction of the quality of our assets and growing demand for our products and services in India and internationally. We have created a strong foundation for future growth and are investing in our core upstream and petrochemical businesses in India. Response to our organised retail business has been very encouraging and we continue to expand our footprint by building more stores across verticals, formats and geographies. We remain committed towords providing world class, high speed wireless data services through the launch of our broadband access business."
The company had a cash and cash equivalents to Rs 70,252 crore, which are primarily invested in fixed deposits, certificate of deposits with banks, mutual funds and government securities.
RIL said during the full year that ended on March 31, its refinery accounted for 36.8%, petrochemicals recorded a 27.7% increase while oil and gas revenues fell 25.2%.
The company's raw materials consumption also increased 42.2% to Rs 2,74,814 lakh crore due to higher crude oil prices, the company said.
Outstanding debt of the company as on March 31, 2012 increased to Rs 68,259 crore as compared to Rs 67,397 crore recorded in last fiscal.
The company board approved the buyback of up to 120 million fully paid-up equity shares of Rs 10 each, at a price not exceeding Rs 870 payable in cash, up to an aggregate amount not exceeding Rs 10,440 crore the open market through stock exchages.
Shares of the company closed at Rs 731, down 1.39% from previous close on the BSE.
