Business Services Industry
PAKISTAN'S NATIONAL REFINERY BOOKS 26.9% JUMP IN FY NET PROFIT.
AsiaPulse News, September, 2004
KARACHI, Sept 1 Asia Pulse - The net profit of National Refinery Limited (NRL) has increased 26.90 per cent in the financial year 2003-04 to Rs 1.84 billion (US$31 million), up from Rs 1.35 billion in the corresponding period last year.
The board of directors have recommended a final cash dividend of Rs 10 per share for the year, the results said.
Financial results of the company released by the Karachi Stock Exchange (KSE) Monday show the net sales of the refinery improved by Rs 4.32 billion, or 10.69 per cent this year to Rs 40.39 billion compared to Rs 36.07 billion last year.
Analysts said higher international oil prices were behind the the company's solid performance.
"NRL gained mainly due to inventory gains in the last quarter and...
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