RIL net up 47% at Rs 7,628 crore

Amidst bitter fight between the Ambani brothers, Reliance Industries Limited on Wednesday announced a whopping 47 per cent rise in consolidated net profit for the year ending March 31, 2005 at Rs 7,628 crore ($1.7 billion).

It is the first private sector company in India to record a net profit of over $1.7 billion.

Highlights:

• Earning per share of Rs 54.2 and cash EPS of Rs 86.6
• Cash profit of Rs 12,087 crore (Rs 120.87 billion) for the year, an increase of 31 per cent
• Turnover of Rs 73,164 crore (Rs 731.64 billion) for the year, an increase of 30 per cent
• Exports of Rs 25,532 crore (Rs 255.32 billion), an increase of 71 per cent
• Dividend increased from 52.5 per cent to 75 per cent
• Dividend of 75 per cent, payout of Rs 1,192 crore (Rs 11.92 billion)
• Net profit of Rs 7,572 crore, an increase of 47 per cent
• The company's contribution to the national exchequer in the form of various taxes was Rs 13,972 crore (Rs 139.72 billion).

During the year major associates of Reliance have registered encouraging growth:

Indian Petrochemicals Corporation Limited has posted a turnover of Rs 9,386 crore (Rs 93.86 billion) against Rs 9,019 crore (Rs 90.19 billion) for the corresponding previous year, an increase of 4 per cent and net profit after tax of Rs. 789 crore (Rs 7.89 billion) against Rs 273 crore (Rs 2.73 billion) for the corresponding previous year, an increase of 188 per cent for the year ended March 31, 2005.

Reliance Energy Limited has reported an increase of 42 per cent in their net profits to Rs 520 crore (Rs 5.2 billion) and an increase of 28 per cent in total income at Rs 4,593 crore (Rs 45.93 billion).

Reliance Infocomm Limited has posted a turnover of Rs 5,387 crore (Rs 53.87 billion) against Rs 2,707 crore (Rs 27.07 billion) for the corresponding previous year, an increase of 99 per cent and net profit after tax of Rs 51 crore (Rs 510 billion) against loss of Rs 390 crore (Rs 3.9 billion) for the corresponding previous year.