NRL profit goes to Rs 449 crore

Guwahati, Sep 23(UNI) The Numaligarh Refinery Ltd (NRL) has recorded a profit after tax of Rs 449 crores as they have recorded a gross turnover of Rs 5820 crores.

This was announced in the Annual General meeting held here yesterday where 31 per cent post tax profit as dividend was announced.

This will enable the Refinery contribute a sum of Rs 17.25 crore as dividend to the State exchequer for the year 2005-06.

The AGM was presided over by NRL chairman Ashok Sinha, said an NRL press release here.

In the 2005-06 fiscal, the Refinery registered a record gross turnover of Rs 5,820 crore with a growth of 35 per cent over the previous year.

Its after tax profit of Rs 449 crore earned during the year was also the highest since the commencement of its commercial operations in 2000. Last year it earned a profit of Rs 409 crore.

The Refinery attributes its impressive success to a combination of the positive factors like growth in turnover due to higher realization of price, improved product mix, optimization of operations, stringent cost control measures and savings in interest cost.

It said that by optimizing operations and fine-tuning business systems, it was able to process 2.13 million metric tonnes of crude and evacuate 1.95 million metric tonnes of products during the year 2005-06. The continuous efforts of the Refinery in maximizing production of high value distillates has resulted in net distillate yield of 85.1 per cent wt, which was one of the highest in the country.

In the current year, the NRL achieved a milestone by successfully completing the Rs 297 crore Motor Spirit Project. This will enable the Refinery to produce 185,000 MT of Motor Spirit annually and enhance the production of LPG by about 21 TPA, thereby providing value addition, said the NRL in its press release.

The number of its retail outlets called 'Energy Stations' has also gone up to 59 this year. Of these outlets, 36 are located in the NE region and the rest are located in other parts of the country. Sales from these outlets have been quite encouraging and the Company has been able to set itself apart as a unique brand, earning a loyal set of customers in the process, said the Refinery.

The Refinery has now made a decent presence in retailing of MS/HSD in the North Eastern region and captured a market share of 8.5 per cent in the region, which it expects to increase in a progressive manner.

The 'Retail Visual Identity' of the NRL outlets have made quite an impact in the national scenario and the Company has been conferred the Point of Purchase Advertising International Outstanding Merchandise Achievement (POPAI OMA) Silver Award during 2006 under the category of Automobile Permanent for the distinctive and aesthetic qualities of its retail outlets.

The proposed tap off point marketing terminal of the Refinery at Hajo as an offshoot of the Numaligarh-Siliguri Product Pipeline is also expected to generate substantial business activities in Lower Asom areas.

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