Mangalore Refinery & Petrochemicals Ltd (MRPL) informed on Wednesday that its net profit has increased nearly two-fold on higher refining margins, other income and lower provision of tax for the fourth quarter ended March 31, 2009. The company ha s shown the current tax liability at Rs 238.60 crore against Rs 283.12 crore in the previous corresponding quarter. Expenditure is shown at Rs 5,689.16 crore against Rs 9,187.18 crore in the same quarter of previous fiscal.
The company’s profit from operations before tax improved significantly to Rs 883.94 crore (Rs 309.97 crore) on higher refining margins.
The company posted a net profit of Rs 607.62 crore on lower tax provisioning for the fourth quarter ended March 31, 2009, an increase of 170 per cent over the Rs 225.33 crore in the same quarter of 2007-08.
Total income for the quarter has decreased to Rs 6,605.95 crore from Rs 9,532.00 crore in the year-ago period.
The company’s at it meeting on May 27 has recommended a dividend of Rs 1.20 per share (12 per cent.
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