January 13, 2021 | Investopaper
Nepal Oil Corporation (NOC) has earned a net profit of Rs 12.91 Arba in the fiscal year 2076/77. This is as per the annual report presented by Vaikuntha Aryal, Chairman of the Board of Directors and Secretary for Industry, Commerce and Supplies at the 39th Annual General Meeting.
The general meeting had approved to distribute cash dividend of Rs. 2.20 Arba equal to 20 percent of the paid up capital of the corporation. According to Binit Mani Upadhyaya, spokesperson of the corporation, the financial statements including the audit of the fiscal year 2076-77 have been prepared for the first time according to the Nepal Financial Reporting Standards (NFRS).
Surendra Kumar Poudel, Executive Director of the Corporation, briefed the General Meeting about the various aspects of the Corporation’s reforms and thanked all for their support and encouragement in transforming the Corporation into a fully computerized automated system.
The management also thanked Minister for Industry Lekhraj Bhatt and Minister of State Vimala BK, Secretary Dr Aryal, shareholder representatives, board of directors, auditors, employees and businessmen of the corporation for their support in concluding the general meeting of the corporation.
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