CPCL's net profit declines
New Delhi   25-May-2011


R. S. Butola

Chennai Petroleum Corporation Limited (CPCL), a group company of IndianOil, could report a sustained improvement in its performance in the year ended March 31, 2011, with the highest ever crude throughput, record production of motor spirit (petrol) and a significant increase in gross refining margin.

Addressing presspersons here on Tuesday, R. S. Butola, Chairman, said during the year, the company achieved a crude throughput of 10.73 million tonnes against 10.05 million tonnes in the previous year. The gross refining margin was $5.02 a barrel, net of under-recoveries against $4.75 in the previous year. Gross sales stood at Rs. 38,128.26 crore as against Rs. 29,183.84 crore. The net profit was lower at Rs. 511.52 crore against Rs. 603.22 crore due to higher interest charges, depreciation and taxation. The directors maintained the dividend at Rs. 12. In the Cauvery Basin Refinery (CBR), the highest ever gas intake of 33,000 tonnes was achieved resulting in a record propane production, Mr. Butola said. The crude distillation unit III was revamped to four million tonnes from three million tonnes and commissioned in May last year at a cost of Rs. 200.41 crore. With this the Manali Refinery capacity had gone up to 10.5 million tonnes from 9.5 million tonnes taking the total installed capacity to 11.5 million tonnes annually.