Mukesh Ambani Group's flagship company Reliance Industries 's net profit fell 4.6% QoQ to Rs 4,236 crore in the quarter ended March 31, 2012 from Rs 4,440 crore in the previous quarter.
Net sales increased marginally at Rs 85,182 crore from Rs 85,135 crore quarter-on-quarter.
However, the company surprised the street by reporting higher than expected gross refining margin (GRM) in the March quarter. GRM came in at USD 7.6 a barrel as against USD 6.8 a barrel in the previous quarter. The street was expecting it at flat.
Revenues from its petchem segment increased 8.25% to Rs 21,412 in Q4FY12 from Rs 19,781 crore in the previous quarter. Petchem EBIT margin declined at 10.2% versus 10.9% during the same period.
Refining revenue declined moderately at Rs 76,211 crore from Rs 76,738 crore quarter-on-quarter. Refining EBIT margin was unchanged at 2.2% during the same period.
Oil & gas division's revenues fell 7.91% to Rs 2,608 crore from Rs 2,832 crore during the same period.
RIL submitted revised development plan for D-26 to the Directorate General of Hydrocarbons.
Reliance has decided a final dividend at 85% to the face value of Rs 10 a share.
For the year ended March 31, 2012, the company posted gross refining margin at USD 8.6 a barrel as against USD 8.4 a barrel in last fiscal.
Oil & gas producer's net profit for the fiscal 2011-12 dropped to Rs 20,040 crore from Rs 20,286 in the earlier fiscal.
However, net sales during the same period jumped 33% to Rs 3,29,904 crore from Rs 2,48,170 crore.
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