RIL Q4 net profit jumps 16 per cent to Rs 7,398 crore

RIL Q4 results: Total income from operation (net) declined 10.70 per cent yoy to Rs 60,252 crore for the quarter ended March 2016.

RIL Q4 results: Total income from operation (net) of RIL declined 10.70 per cent yoy to Rs 60,252 crore for the quarter ended March 2016. (Photo: Reuters)

Reliance Industries (RIL) announced its financial results for the quarter ended March 2016 on Friday post market hours. Consolidated net profit of the oil & gas major surged 16 per cent year-on-year (yoy) to Rs 7,398 crore in the quarter under review on higher refining and petrochemical margins. RIL has posted net profit of Rs 6381 crore in the corresponding quarter last year.

Total income from operation (net) of RIL declined 10.70 per cent yoy to Rs 60,252 crore for the quarter ended March 2016.

Earnings per share of RIL jumped to Rs 25.10 for the quarter ended March 2016 from Rs 21.70 crore in the same quarter last year.

During Jan-March period, consolidated total expenditure of the company declined by 14.19 per cent yoy to Rs 51,815 crore.

RIL has also declared dividend of Rs 10.50 per equity share of Rs 10 each, aggregating Rs 3717 crore, including dividend distribution for the financial year 2015-16. Debt-to-equity ratio of RIL remained same at 0.74.

For the financial year 2015-16, the company reported net profit of Rs 27,630 crore, up 17.25 per cent, against Rs 23,566 crore in the previous fiscal.

RIL earned $10.8 on turning every barrel of crude oil into fuel compared with a gross refining margin of $10.1 in the fourth quarter of 2014-15.

Mukesh D Ambani, chairman and managing director, Reliance Industries in a release said: “FY 2015-16 has been a year of outstanding achievement for our downstream hydrocarbon businesses, notwithstanding persisting global economic uncertainty. Refining and petrochemicals delivered record operating and financial performances. Our refineries sustained double-digit GRMs and record levels of utilisation through the year. Reliance Retail continued its path of profitable expansion while maintaining a robust revenue growth of 23 per cent during the year. Looking ahead, we are focused on ensuring a flawless start- up and stabilisation of the new growth.”