MUMBAI: The company Monday announced a higher dividend of 47.5 percent on the enhanced capital of 13.96 billion, and a dividend payout of 6.63 billion to an investor base of 3.3 million. The merger of Reliance Petroleum Limited (RPL) with the parent company has created the only company in the world with fully integrated world-scale operations in oil and gas exploration and production (E&P), refining and marketing (R&M), petrochemicals, power and textiles. "The merger has resulted in increased financial strength and flexibility for RIL, and has enhanced its ability to participate in future growth opportunities, particularly in the context of its own initiatives in E&P, Infocom, the hydrocarbon sector, marketing of petroleum products and investment in public sector enterprises being privatised," said a company statement issued in Mumbai. "Based on the latest available information, RIL will rank among the top 200 companies in terms of net profit, among the top 300 in terms of net worth, among the top 425 in terms of total assets and among the top 500 in terms of sales, in the Fortune Global 500 rankings," the statement added. Some of the RIL's subsidiaries considered in the consolidated statement are Reliance Industrial Investments and Holdings Ltd, Reliance Power Ventures, Reliance Ventures, Reliance Strategic Investments and Reliance LNG. Reliance said profits from RPL's refinery did not attract any income tax except for the minimum alternate tax owing to a tax holiday and thus no provision was made for deferred tax by RPL. The audited results show gross sales of 751.20 billion, with manufactured exports, including deemed exports, totalling 112 billion, compared to 93.70 billion for the previous year, making the company India's largest exporter. The net profit (including extraordinary income) is 32.43 billion, compared to 26.46 billion in 2000-01, after provision for deferred tax of 9.96 billion. The total paid-up equity share capital (including shares to be allotted to shareholders of erstwhile RPL) of the company stood at 13.96 billion. The company's tax payment to the national exchequer in various forms totalled 104.70 billion, compared to 42.77 billion for the previous year.
Source: IANS