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Kochi Refineries posts Rs. 842-crore profit

Staff Reporter

KOCHI: Kochi Refineries Limited (KRL), a subsidiary of Bharat Petroleum Corporation Limited, has posted a profit before tax of Rs. 1,193 crores during the financial year 2004-2005 as against Rs. 906 crores during the previous financial year.

The profit after tax rose to Rs. 842 crores as against Rs. 555 crores in 2003-2004, an increase of 51 per cent.

The gross turnover for the year has registered a growth of about 32 per cent over the previous financial year at Rs. 15,451 crores, which is also a record in the history of the company. The previous best was Rs.11,721 crores achieved during 2003-2004, according to a press release.

Crude thruput during the year was an all-time high of 7.92 million metric tonnes (MMT) against the target of 7.55 MMT. The previous best was 7.85 MMT achieved during the year 2003-2004. The capacity utilisation has touched a record high of 105 per cent in the financial year. KRL exported around 0.8 million tonnes of products, valued at around $ 213 million, during the year.

The company signed a Memorandum of Understanding (MoU) recently with Bharat Petroleum Corporation Limited for 2005-2006.

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