Reliance: FY12 net sales up 33% at Rs 3,29,904 cr

By Gautam Broker, Research Analyst at CNBC-TV18

India's most valued company Reliance Industries reported a net profit of Rs 4,236 crore in the fourth quarter of FY12, a fall of 4.6% as compared to Rs 4,440 crore in the previous quarter.
Net sales during the same period increased moderately at Rs 85,182 crore from Rs 85,135 crore.
However, the company surprised the street by reporting higher than expected gross refining margin (GRM), which came in at USD 7.60 a barrel in Q4 as against USD 6.80 a barrel in Q3 of the same financial year 2011-12.
Refining revenue during the March quarter declined at Rs 76,211 crore from Rs 76,738 crore QoQ and refining EBIT margin was unchanged at 2.2%.
Petchem revenue increased to Rs 21,412 crore from Rs 19,781 crore quarter-on-quarter and petchem EBIT margin dropped at 10.2% versus 10.9%.
Oil & gas revenue slipped at Rs 2,608 crore from Rs 2,832 crore during the same period.
GRM for the financial year 2011-12 stood at USD 8.60 a barrel versus USD 8.40 a barrel
Net profit during the year declined marginally at Rs 20,040 crore from Rs 20,286 crore while net sales shot up 33% to Rs 3,29,904 crore from Rs 2,48,170 crore. Watch video for more information...