RIL's fourth quarter net down 9.3 per cent at Rs3,546 crore

23 April 2009

Reliance Industries has reported a 9.3 per cent fall in its fourth quarter net profit at Rs3,546 crore (down 1 per cent at Rs3,874 crore excluding exceptional items) and a 21.47 per cent drop in fiscal 2008-09 (March-April) profit at  Rs15,279 crore.

Fourth quarter turnover dropped 24 per cent to Rs28,362 crore while turnover for the full year rose 9.6 per cent to Rs1,46,291 crore, the company said while announcing its unaudited financial results for January-March 2009.

The $54 billion Reliance Industries Ltd, India's biggest energy group, which has been hurt by the squeeze on margins by the oil price spike and the global economic downturn, still fared better than market expectations.

Reliance's refining margins fell to $9.9 per barrel in the quarter, from $15.5 a year earlier.

Basic earning per share (EPS), excluding exceptional item, for the year was Rs103.2 ($2.03) against Rs105.0 for the previous year. Basic earning per share (EPS), including exceptional item, for the year was Rs101.0 ($1.99).

Highlights of the un-audited financial results:

• Turnover up 8.3 per cent to Rs. 150,771 crore ($29.7 billion)
• Exports rise 12.6 per cent to Rs94,038 crore ($18.5 billion)
• PBDIT up 5.1 pr cent at Rs25,428 crore ($5.0 billion)
• Cash profit before exceptional items up 2.7 per cent at Rs21,566 crore ($4.3 billion)
• Net profit before exceptional items rise 2.3 per cent to Rs15,607 crore ($3.1 billion)
• Gross refining margin at $12.2 / bbl for fiscal 2008-09
• Return on capital employed at 20.7 per cent for fiscal 2008-09
• Return on equity (ROE) at 21.0 per cent for the year
• Net debt to equity at 0.24 as of 31 March 2009