OIL & GAS

Numaligarh Refinery registers highest ever dividend of 375 per cent, profits of Rs 3,036 for 2020-21

The Numaligarh Refinery Limited on Saturday announced its highest ever dividend of 375 per cent and profits of Rs 3,036 crore for 2020-21, the PSU Chairman Sushil Chandra Mishra said on Saturday.

Higher Crude output and increase in overall margins resulted in the PSU in the oil and gas sector to post record net profit of Rs 3,036 crore, an increase of 120 per cent over the previous year, while the net worth of the company has increased to Rs 5,596 crore till March 31, 2021 as compared to Rs 5,304 crore in the previous year, Mishra said at the 28th annual general meeting here during the day.

The company posted Rs 18,544 crore revenue from its operations, which was higher by 31.77 per cent or over Rs 14,073 crore than in the previous year. He said that this was primarily on account of higher sales volume. “The outstanding financial performance has led to NRL’s highest ever contribution of Rs 6368 crore to the government exchequer,” he added.

The company has declared the highest ever dividend of 375 per cent during the financial year 2020-21 with Rs 37.5 per fully paid equity share of Rs 10 each which has already been disbursed as interim dividend during the year.

Mishra said that the financial year 2020-21 ended on a positive note despite innumerable adversities, leveraging on internal strength, adaptability and robust inbuilt systems and procedures.

Source
New Indian Express
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