Financial Daily from THE HINDU group of publications
Thursday, Oct 28, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 28, 2004 |
||
|
|
||
|
Corporate Results
-
Petroleum Kochi Refineries rides high Our Bureau
KOCHI: Backed by a strong surge in its refining margin from $2.5 to $5.6 per barrel, the net profit of Kochi Refineries Ltd has grown by 167 per cent to reach Rs 175.50 crore (Rs 65.70 crore) during the quarter ending September 30. The prime reason for the strong surge in profits has been the better refining margins that the company has been able to enjoy, Mr Cherian Punnoose, Finance Director of the company, told Business Line. The board that met at Mumbai on Tuesday took on record the financial results for the quarter. The crude throughput of the company rose to 1.947 million tonnes from 1.877 million tonnes during the corresponding quarter of the previous year. Total income from sales and operations rose to Rs 3,517 crore (Rs 2,649 crore). Total expenditure grew to Rs 2,759 crore (Rs 2,147 crore). The gross profit of the company rose to Rs 278 crore (Rs 98 crore). The earnings per share touched Rs 12.68, up from Rs 4.74. Going by the current trends, the company should be able to replicate its good performance in the current quarter as well, Mr Punnoose said.
More Stories on : Petroleum
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|