Net sales/income from operations rose to Rs 10,045.8 crore from Rs 5,562.6 crore as also other income to Rs 98.2 crore from Rs 87.5 crore. The gross turnover was Rs 12,325 crore which was substantially higher than Rs 9,691.5 crore last year.

As per the unaudited financial results declared here on Friday, total expenditure for the first half stood at Rs 9,459.9 crore, almost double that of the previous half's Rs 5,100.8 crore. Interest was Rs 84.7 crore, up from Rs 50.2 crore. Earnings per share, on an annualised basis, was Rs 45.68 which was higher than Rs 29.16.

In its release, the company has stated that effective April 1, the retention pricing concept for refineries has been abolished. Profitability now is governed by the difference between tariff-adjusted import parityprice for controlled products, market-determined prices for decontrolled products and landed cost of crude oil. Consequent to this revision, there is an increase in the profits of the current year.

During the current financial, sales increased to 8.24 million tonnes, as compared with 7.97 million tonnes in the previous year. The refinery processed 4.38 million tonnes as compared to 3.76 million tonnes.