Numaligarh Refinery Limited achieves highest ever sales turnover of Rs 23,546 crore

The highest ever profit before tax (PBT) was also achieved at Rs 4,848 crore, which is higher by 18.37% compared to Rs 4,083 crore during the previous financial year.

Published: 19th September 2022 06:41 PM  |   Last Updated: 19th September 2022 06:41 PM   |  A+A-

Dr R Rath

NRL Chairman Dr R Rath seen interacting with mediapersons. (Photo | Special Arrangement)

By Express News Service

GUWAHATI: Despite challenges and uncertainties, the Numaligarh Refinery Limited (NRL) managed to achieve the highest ever sales turnover of Rs 23,546 crore during the 2021-22 fiscal.

It was higher by 26.95% as against Rs 18,548 crore in the previous financial year, primarily on account of increase in product prices, the company said on Monday after its 29th Annual General Meeting.

It said the highest ever profit before tax (PBT) was also achieved at Rs 4,848 crore, which is higher by 18.37% compared to Rs 4,083 crore during the previous financial year, mainly due to increase in overall gross margin and higher inventory gains.

"Accordingly, the company posted record profits for the year with profit after tax (PAT) of Rs 3,562 crore compared to Rs 3,036 crore during the previous year, registering an increase of Rs 525 crore. The compound annual growth rate for PAT stood at 27.41% since the commencement of commercial production. The earnings per share for FY 2021-22 stood at Rs 48.42 against Rs 41.27 in FY 2020-21," NRL said in a statement.

Addressing the shareholders, chairman Dr R Rath said NRL is determined in its pursuit of executing the major ongoing projects in hand such as Numaligarh Refinery Expansion Project, Paradip Numaligarh Crude Oil Pipeline & Crude Oil Import terminal at Paradip, 2G Ethanol Project and India-Bangladesh Friendship Pipeline.

"In the next five years, your company has planned to invest more than Rs 35,000 crore in completing these projects which will enable long-term business growth, both in terms of revenue and profit. Hence, completing these projects without any time and cost overrun remains the core focus area of the company," Dr Rath told the shareholders.

During the 2021-22 fiscal, the NRL achieved a throughput of 2,624 TMT which included 23 TMT of imported crude oil. It also commenced 10% blending of ethanol in motor spirit (petrol) at its Siliguri and Numaligarh marketing terminals with 1,122 KL of ethanol blending in the first year, which is gaining further momentum in the current financial year.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp