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Mauritius oil giant’s profits double in a year, revenues hit Rs1billion

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Shareholders of the Mauritius Oil Refineries, the leading producer and supplier of edible oil products on the island, must be rubbing their hands.

According to its Financial Statements published on the Stock Exchange of Mauritius (SEM) on September 27, the company’s profits after tax for the year ending June 2021 have doubled compared to last year. And revenues have crossed the Rs1 billion mark.

From Rs 22.4 million in 2019/2020, Mauritius Oil Refineries Limited posted net profits of Rs 47.6 million a year later. Revenues soared from Rs994million as at June 2020 to reach Rs 1.16 billion as at June 2021.

Mauritius Oil Refineries said its turnover increased by 16.9% mainly due to significant increase in prices of crude vegetable oils.

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