Reliance Posts Marginal Rise in Q4 Net; Pays Rs 9.50 Dividend - The New Indian Express

Reliance Posts Marginal Rise in Q4 Net; Pays Rs 9.50 Dividend

Published: 19th April 2014 06:00 AM

Last Updated: 19th April 2014 01:00 AM

Reliance Industries on Friday reported a marginal rise in net profit to ` 5,631 crore in the fourth quarter ended March 31 from `5,589 crore a year earlier.

Its turnover was up 13% to `97,807 crore, Reliance said in a stock exchange filing.

The company announced a dividend of `9.50 per share. For the full financial year, the company reported a 4.7 per cent increase in net profit to `21,984 crore, while turnover was up 8.1 per cent to `401,302 crore.

Earnings from oil refining climbed 12.3%, while those from the petrochemical segment were up 10.6%, offsetting a 17.8 per cent dip in the oil and gas business,  it said.

Reliance Retail sales up 19 per cent

Meanwhile, Reliance Industries Ltd retail arm Reliance Retail reported a 19.27 per cent increase in turnover to `3,639 crore in the quarter ended March 31.

Reliance Retail had a turnover of `3,051 crore in the corresponding quarter a year ago. Revenue for the full financial year was `14,496 crore, RIL said in a statement.

“Retail business has turned around and is now India’s largest retail chain,” Reliance Industries Chairman and Managing Director Mukesh Ambani said in a statement.

The retail business’ profit before depreciation, interest and taxes was `363 crore in FY14, it added.

“The fashion and lifestyle sector delivered strong performance in the quarter, fuelled by its focus on providing customers with fashionable, high-quality products at great value. The focus on customer and product proposition delivered record revenues and growth, both in the quarter and for the year,” the company said.

RIL’s retail business now operates 1,691 stores across 146 cities in India, it said.

(With agency inputs)

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