Chennai Petroleum Corporation Ltd (CPCL), a subsidiary of the Indian Oil Corporation (IOC), has registered a growth of 183.48 per cent in net profit for the fourth quarter of 2002- 2003.
The net profit increased from Rs 79.49 crore to Rs 225.34 crore for the quarter ending March 2003. The board has recommended the highest-ever dividend of 35 per cent.
Addressing a press conference M S Ramachandran, chairman, CPCL, said,
