Financial Daily from THE HINDU group of publications
Tuesday, Jun 07, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jun 07, 2005 |
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Corporate Results
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Petroleum MRPL net profit jumps 92 pc Our Bureau
New Delhi , June 6 MANAGALORE Refinery and Petrochemicals Ltd (MRPL) has registered a 92 per cent increase in net profit at Rs 880 crore during the fiscal 2004-05. The company, which is a subsidiary of Oil and Natural Gas Corporation, had reported a net profit of Rs 459 crore during the previous year. For the year 2004-05, MRPL reported a turnover of Rs 20,692 crore. This represents a 64 per cent increase over the previous year when it had registered a turnover of Rs 12,612 crore. On the export front, the company registered a turnover of Rs 6,158 crore. The export turnover reported during 2004-05 was the best-ever recorded by the company, according to an official statement issued here on Monday. The statement also highlighted that the debt-equity ratio has come from 9.7:1 during March 2003 to 0.96:1 on March 31, 2005. The board has recommended a maiden dividend of Re 1 per equity share. The dividend will absorb Rs 175.26 crore. In a statement, MRPL has said that the total accumulated losses of Rs 1,185 crore as on March 31, 2003, when ONGC acquired management control have been wiped out.
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