NRL Reports Impressive Financial Performance and Future Expansion Plans

Numaligarh Refinery Limited (NRL) reported a revenue of Rs 23,731 crore and a net profit of Rs 2,160 crore for the financial year 2023-24. Despite initial setbacks, the company showed strong performance, declaring dividends and significant progress in its expansion projects. The company's net worth reached Rs 13,926 crore.

Numaligarh Refinery Limited (NRL) announced a robust financial performance for the fiscal year 2023-24, posting a revenue of Rs 23,731 crore and a net profit of Rs 2,160 crore, according to chairman Ranjit Rath.

Despite setbacks including a planned shutdown and an unforeseen fire incident in the first quarter, NRL declared a final dividend of Rs 258.42 crore at its 31st annual general meeting. The total dividend for the year stood at Rs 710.66 crore, representing 32.90% of the company's Profit After Tax (PAT).

The refinery achieved 100% capacity utilization for 10 months, processing 2,510 TMT of crude oil, and recorded the highest-ever standalone capital expenditure of Rs 8,502 crore. The chairman highlighted significant progress in the ongoing Numaligarh Refinery Expansion Project and reaffirmed the company's commitment to sustainability and stakeholder value.

(With inputs from agencies.)