NRL registers an increase in revenue growth by 31.77 %

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Guwahati: Numaligarh Refinery Limited has posted its operation revenue at Rs 18,544 crore which was higher by 31.77 percent over the previous year, primarily on account of higher sales volume.

Higher crude throughput and increase overall margins resulted in NRL posting a record net profit of Rs 3,036 crore, an increase of 120 percent over the previous year, a statement issued after the 28th annual general meeting of the company stated.

The net worth of the company has increased to Rs 5,596 crore as of March 31, 2021, as compared to Rs 5,304 crore in the previous year. The outstanding financial performance has also led to the highest ever contribution to the government ex- chequer at Rs 6,468 crore.

The annual general meeting was held today at the NRL Corporate Office here. The meeting was presided over by Chairman NRL and CMD Oil India Limited (OIL) SC Mishra and was attended by NRL MD SK Barua and other members of the NRL board and shareholders of the company.

The company has declared the highest ever dividend of 375 percent during the financial year 2020-21, which has already been disbursed as an interim dividend during the year.

The highlight of the financial year 2020-21 was the change in ownership of the company with OIL taking over as a holding company with majority equity shareholding through a share purchase agreement signed on March 25.

During the financial year 2020-21, the refinery processed 2,707 TMT of crude oil, a 14 percent increase over the previous year. The company also imported 42 TMT of crude oil that was processed in the refinery.

There was an increase in production of High-Speed Diesel (HSD) by more than 12 percent at 1,809 TMT and MS by 36 percent at 636 TMT over the previous year. The refinery also recorded the highest ever wax production of 47 TMT, a 17 percent increase over the previous year, and the highest ever LPG bottling at 57 TMT, an increase of 33 percent over the previous year.

With several projects undertaken during the financial year 2020-21, NRL recorded the highest ever capital investment of Rs 924 crore.