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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (8943)	10/25/1999 11:14:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Madras Refineries turnover spurts 36% to Rs 2,343.44 cr ($545 million) mrlmadras.com Joseph Vackayil (FE) Chennai, Oct 25: Madras Refineries Ltd (MRL) has posted a net profit of Rs 70.81 crore (Rs 60.75 crore) for the first half of 1999-2000. Sales at Rs 2343.44 crore (Rs 1719.84 crore) was higher by about 36 per cent. The total expenditure during the period was Rs 2246.90 crore against Rs 1588.73 crore during the similar period last year. The company's operating profit was at Rs 201.34 crore (Rs 177.33 crore). Gross profit after an interest payment of Rs 58.75 crore (Rs 53.94 crore) has gone up to Rs 142.59 crore from Rs 123.39 crore. Provision for depreciation has come down marginally to Rs 41.43 crore from Rs 42.39 crore during the 1998-99 half year. Profit before tax is at Rs 101.16 crore against Rs 81 crore and provision for taxation is higher at Rs 30.35 crore from Rs 20.25 crore. The dismantling of the administered price mechanism for the refining sector of the petroleum industry since April 1998 has enabled the company to increase its sales income thanks to changes in the prices of crude oil and products based on the international market trends.