NRL declares 16 % dividend, profit increases by 3-fold

With its net profit increasing by over three-fold to Rs 371 crore for 2013-14, the Numaligarh Refinery Ltd today declared a dividend of 16 per cent.
The total dividend to be paid by NRL to its shareholders -- Bharat Petroleum Corporation Limited (BPCL), Oil India Limited and Assam government--would amount to Rs 117.70 crore, NRL Chairman S Vardarajan said while addressing the refinery's 21st Annual General Meeting here.
Assam government would receive Rs 14.53 crore as dividend for its equity of 12.35 per cent in NRL.
During the year, NRL contributed Rs 890 crore to the Central exchequer and Rs 244 crore to the state exchequer.

NRL achieved a sales turnover of Rs 9,872 crore recording a growth of 13 per cent while the net profit increased by 157 per cent to Rs 371 crore.
The basic earning per share was Rs 5.04 as against Rs 1.96 in the previous year.

Vardarajan said improvement in financial performance could be achieved through higher crude processing, better refining margin and optimisation of process parameters.
"Our excellence in refinery operations has been exemplified through achievement of highest distillate yield among all PSU oil refineries in the country for the third consecutive year," Vardarajan said.
On the physical front, NRL went on to record 92.16 per cent distillate yield during 2013-14, the highest among PSU refineries in the country.

Crude yield during the period was 2613 TMT, higher than the previous year by five per cent and corresponding to 87 per cent capacity utilisation, he added.