GUWAHATI, Sept 12 – The Numaligarh Refinery Limited (NRL) has registered a net profit of Rs 371 crore with a sales turnover of Rs 9,872 crore, recording a growth of 13 per cent. The 21st annual general meeting of the NRL was held here today which was presided over by S Varadarajan, Chairman and Managing Director of Bharat Petroleum Corporation Limited (BPCL) and Chairman of the NRL and it was also attended by P Padmanabhan, Managing Director of NRL and other members of the NRL Board.
While releasing the financial results, S Varadarajan said, “Our excellence in refinery operations have been exemplified through achievement of the highest distillate yield among all PSU oil refineries in the country for the third consecutive year”.
The NRL also declared a dividend of 16 per cent.
The NRL has completed 14 years of successful operation with sustained profitability. The company has retained its domestic credit at A1+, for short-term loans and AAA Negative for long-term loans, from CRISIL. Improvement in financial performance could be achieved through higher crude processing, better refining margin and optimization of process parameters.
On the physical front, the NRL went on to record 92.16 per cent distillate yield during 2013-14, the highest among PSU refineries in the country. The crude throughput during 2013-14 was 2613 TMT, higher than the previous year by 5 per cent and corresponding to 87 per cent capacity utilization.