New Delhi, Oct 15: Cochin Refineries Ltd has paid Rs 12.14 crore to the centre, as the government's share of the 32 per cent dividend declared by the public sector enterprise for the 1997-98 fiscal. The government holding in Cochin Refineries is 55.04 per cent.Cochin Refineries earned a profit after tax of Rs 220.41 crore, out of a turnover of Rs 4,374 crore in 1997-98, which was 12 per cent higher than in the previous year. The refinery processed 7.74 million tonne of crude oil last year. Profit before tax was Rs 291.91 crore. This year the company had declared a dividend of 32 per cent, against 28 per cent last year.
With this the total dividend paid to the union government so far (since 1967-98) amounted to Rs 103.82 crore.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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