Numaligarh Refinery Limited has registered a net profit of Rs 183.70 crore and has declared a dividend of ten per cent for the year 2011-12.
Presiding over the 19th Annual General Meeting of shareholders, NRL Chairman R K Singh said that profit before tax (PBT) recorded by the refinery was Rs 287.46 crore.
“The total dividend to be paid by NRL to its shareholders — BPCL, OIL and Assam government would amount to Rs 73.56 crore”, he said.
NRL was exploring possibilities for diversification into sectors like power generation, pipelines, exploration and production.
The refinery’s close proximity to countries like Bangladesh, Bhutan and Myanmar presents another opportunity of natural markets for its products.
“An amount of Rs 8,955 crore has already been provided in the 12th Five Year Plan Outlay and the company is also pursuing a broad array of growth opportunities by way of implementing several value added projects”, he said.
In its pursuit to be a technology savvy company, NRL has successfully implemented B2B (Business to Business) process with Oil India Limited for purchase of crude oil and sale of products.
This initiative has resulted in savings in time, effort and money and is the first event of B2B implementation between an upstream company and a downstream company in the oil industry, Singh said.
Product exchange process between NRL and Other Oil Marketing Companies like HPCL and IOCL has also been successfully automated through B2B transactions over ERP systems during 2011—12, he added.