Mukesh Ambani-led Reliance Industries Ltd on Monday reported better-than-expected growth of 12.3 per cent in its consolidated net profit after taxes at Rs 8,046 crore for the January-March quarter of FY17, buoyed by higher refining and petrochemical margins.
“The consolidated net profit of the Indian conglomerate stood at Rs 7,167 crore during the same period a year ago,” Reliance Industries Ltd said in a filing to the Bombay Stock Exchange on April 24, 2017.
Further, RIL’s consolidated total income too jumped by 43.8 per cent to Rs 94,825 crore during Q4 2016-17, as compared to Rs 65,950 crore during the same period last year.
RIL earned USD 11.5 on turning every barrel of crude oil into fuel in the fourth quarter of 2016-17.
On standalone basis, the company’s net profit jumped 12.8 per cent to Rs 8,151 crore for the quarter ended March 31, 2017 as compared to Rs 7,227 crore for the quarter ended March 31, 2016. Total income has increased from Rs 56,330 crore for the quarter ended March 31, 2016 to Rs 75,969 crore for the quarter ended March 31, 2017.
The company’s board has recommended a dividend of Rs 11 per equity share of Rs 10 each for the financial year ended March 31, 2017.
Meanwhile, shares of the company closed at Rs 1,416.40 apiece, up 1.19 per cent, from previous close on BSE.