RIL fourth quarter net profit down 21.2%

Mumbai: Reliance Industries Ltd (RIL) Friday reported a decline of 21.20 percent in its net profit, which stood at Rs.4,236 crore in the fourth quarter of 2011-12 compared to Rs.5,376 crore in the corresponding period of 2010-11.

The company's total income rose by 18.86 percent to Rs.87,477 crore in January-March quarter as compared to Rs.73,591 crore in the corresponding quarter 2010-11.

Net sales stood at Rs.85,182 crore, an increase of 17.21 percent from Rs.72,674 crore in the quarter ended March 31, 2011.

The results came after the markets closed. The share price of RIL stock was down 1.39 percent or 10.30 points at Rs.731.45 at the Bombay Stock Exchange (BSE) Friday.

For fiscal 2011-12, the company reported a decline of 1.21 percent in its net profit which stood at Rs.20,040 crore, compared to Rs.20,286 crore in the corresponding period of 2010-11.

The company's total income rose by 33.78 percent to Rs.336,096 crore for the fiscal 2011-12 as compared to Rs.251,222 crore in 2010-12.

Net sales stood at Rs.329,904 crore an increase of 32.93 percent from Rs.248,170 crore in 2010-11.

RIL added that its directors have recommended a dividend of Rs. 8.50 per fully paid-up equity share of Rs.10 each.

IANS