Reliance Industries has announced restated results for the year ended March 31, 2009, to reflect the absorption of Reliance Petroleum unit effective April 1, 2008.
The company has declared a bonus issue of one share for every equity share held while maintaining the dividend at Rs. 13 per share. The board has also considered dividend on the shares issued to the shareholders of erstwhile Reliance Petroleum. The amount required for the proposed dividend will be Rs. 2,219 crore, including dividend distribution tax.
The equity share of Reliance Industries closed at Rs. 2,099 on the Bombay Stock Exchange on Wednesday against Rs. 2,132 on Tuesday.
On the basis of audited consolidated results, the company has achieved a turnover of Rs. 1,55,789 crore for the year ended March 31, 2009, against Rs. 1,43,005 crore in the previous year. Profit from operations, before other income, interest and exceptional items, stood at Rs. 18,141 crore against Rs. 18,140 crore. The net profit after tax is lower at Rs. 14,950 crore against Rs. 19,523 crore. However, the current year figure includes the performance of Reliance Petroleum and therefore not comparable with those of the previous year, according to a company release.
Reliance Petroleum has been amalgamated with the company under the scheme of amalgamation sanctioned by the High Court of Judicature at Bombay. The shareholders of RPL have been allotted one fully-paid equity share of Rs. 10 each of Reliance Industries for every 16 equity shares of RPL.
On a standalone basis, the gross turnover was Rs. 1,46,328 crore against Rs. 1,39,269 crore. Profit from operations, before other income, interest and exceptional items stood at Rs. 18,488 crore against Rs. 18,459 crore and the net profit from ordinary activities at Rs. 15,637 crore against Rs. 15,261 crore.
The paid-up equity capital stood at Rs. 1,574 crore as on March 31, 2009, and reserves, excluding revaluation reserve, at Rs. 1,12,945 crore.
