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The Board of Directors of
the Company has taken on record the Unaudited Financial Results
for the ninemonths period ended 31.12.2001 at the Board Meeting
held in Chennai today(28.01.2002).The crude thruput for the
nine months period was 4.94 Million Metric Tons (MMT).Sales
Turnover amounted to Rs.4,706 crores.
The company has reported a profit of Rs.34.95
crores for the third quarter.Inspite of continued low international
refiningmargins,the company was able toshow reasonable profit
during the third quarterby implementation of various performence
improvement and cost reduction measures.
The cumulative loss has been reduced to Rs.15.78
croreson account of the profits in the third quarter.
The Company is confident of achiving
improved profitability during the last quater of the fiscal
year 2001- 02 and expects to end the year with a resonable profit
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