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Our Bureau

Kochi , Jan 25.

THE net profit of Kochi Refineries Ltd has grown by 163 per cent to touch Rs 288.7 crore (Rs 109.7 crore) for the quarter ended December 2004.

There was a corresponding growth in profit before tax, which touched Rs 354.8 crore (Rs 151.3 crore), according to a fax from the company.

The gross refinery margin for the nine-month period was $5.8 per barrel, against $2.9 per barrel recorded for the corresponding period last year.

Total income from sales and operations was Rs 4,286.1 crore (Rs 2,916.7 crore). With surging international crude prices, the total expenditure incurred by the company was Rs 3,207.6 crore (Rs 2,254.6 crore). Raw material costs constituted the highest component in the expenditure incurring Rs 3,003.1 crore (Rs 2,171.7 crore).

The company has incurred Rs 134 crore for current taxes against Rs 50 crore incurred during the corresponding period last year. The expenditure on interest could be contained at Rs 6.5 crore, against Rs 9.4 crore incurred last year.

Earnings per share as on December 2004 on a non-annualised basis were Rs 20.85 (Rs 7.92).

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