MRL also notched up its highest ever turnover in the year at Rs 3,882 crore (provisional) over last year's Rs 2,720 crore, a company press release said here.

The profit before tax of MRL during the year stood at Rs 201.33 crore over Rs 144 crore earned during 1997-98.

However, crude output from MRL's Manali refinery in 1998-99 was lower than the previous year at 6.10 million tonnes per annum (mmtpa) over 6.96 mmtpa in 1997-98.

The lower output was due to maintenance turnaround in both refinery I and II, the release said.

Currently, the refinery is putting up a diesel hydro-desulphurisation project to meet the revised future 0.25 per cent sulphur specification in diesel produced.

The project is in an advanced stage of construction and it would be commissioned by June this year, the release added.