Reliance Q4 net falls over 21 per cent to Rs4,236 crore
20 Apr 2012
Reliance Industries today reported a 21.2 per cent fall in its fiscal fourth quarter net profit, at Rs4,236 crore against a net profit of Rs5,376 crore in the similar quarter of the previous year.
Reliance Industries, which operates the country's largest refinery complex in Jamnagar, Gujarat, saw its profit fall for a second consecutive quarter, hurt by weak refining margins and declining gas output from its offshore fields.
For the full financial year (April 2011-March 2012), Reliance said its net profit rose by a marginal 1.2 per cent to Rs20,040 crore ($3.9 billion) from Rs20,286 crore in the previous fiscal.
Revenue for the financial year increased to Rs339,792 crore ($66.8 billion) from Rs258,651 crore.
RIL reported the highest-ever export of Rs208,042 crore ($40.9 billion) during the year - a 41.8 per cent increase year-on-year.
Gross refining margin during the January-March 2012 quarter stood at $7.6 per barrel and $8.6 for the full year ended 31 March 2012, RIL said.