Reliance Industries Ltd, India's biggest petrochemicals company, on Thursday reported a consolidated net profit of Rs 5,169 crore (Rs 51.69 billion or $1.17 billion) for the year ended March 31, 2004 compared to a net profit of Rs 4,003 crore (Rs 40.03 billion) for the previous fiscal.

The board has recommended a dividend of Rs 5.25 per fully paid-up equity share of Rs 10 each, a company official said in Mumbai.

Total income for the year under review increased to Rs 53,183 crore (Rs 531.83 billion) compared to Rs 46,786 crore (Rs 467.86 billion) in the previous fiscal.

The company during the fourth quarter ending March 31, 2004 reported a net profit of Rs 1,419 crore (Rs 14.19 billion) as against Rs 1,101 crore (Rs 11.01 billion) the previous year on an income of Rs 14,585 crore (Rs 145.85 billion) against Rs 13,081 crore (Rs 130.81 billion) during the same period in 2002-03.

The company posted a net profit of Rs 5,160 crore (Rs 51.60 billion) for the year ended March 31, 2004 compared to Rs 4,104 crore (Rs 41.04 billion) in the previous fiscal.

Total income in FY'04 rose to Rs 52,940 crore (Rs 529.40 billion) as against Rs 46,899 crore (Rs 486.99 billion) in FY'03, the official said.

The company said during 2003-04, exports showed an increase of 30 per cent at Rs 14,969 crore (Rs 149.69 billion).

Production of oil, gas and petrochemicals at 12.4 million tonnes showed a four per cent growth, it said.

The dividend of 52.5 per cent (Rs 5.25) would lead to a payout of Rs 825 crore (Rs 8.25 billion), it added.