Date:13/05/2007 URL: http://www.thehindu.com/2007/05/13/stories/2007051302261300.htm

Business

MRPL turns around in Q4

Special Correspondent

Board recommends 8 per cent dividend

NEW DELHI: Mangalore Refinery and Petrochemicals Ltd (MRPL) has posted a net profit of Rs. 181.88 crore for the fourth quarter ended March 31, 2007, as compared to a net loss of Rs. 29.50 crore during the same quarter last year. Total income grew by 9 per cent to Rs. 6,835.94 crore from Rs. 6,433.41 crore, according to an official release.

The board has recommended an 8 per cent dividend on equity capital and 0.01 per cent on preference share capital for the year ended March 31, 2007. The company recorded a net profit of Rs. 525.53 crore for the year ended March 31, 2007, as compared to Rs. 371.61 crore in 2005-06. Total income increased to Rs. 28,706.83 crore from Rs. 25,044.32 crore.

Speaking on the occasion, MRPL Chairman, R. S. Sharma, complimented the MRPL team for achieving all-round excellent performance during the year and thanked all the stakeholders for their unstinted support and confidence.