The Hindu : HPCL pays 180 p.c. final

Online edition of India's National Newspaper
Saturday, Jun 28, 2003

Business

Business

HPCL pays 180 p.c. final

By Our Corporate Reporter

CHENNAI JUNE 27. Hindustan Petroleum Corporation (HPCL) has increased its gross sales to Rs. 52,605.14 crores in the year ended March 31, 2003 from Rs. 45,309.67 crores in the previous year. The sales growth was higher by 4.9 per cent against the industry average of 1.2 per cent.

The increase in market sales was mainly in LPG (11.4 per cent) MS retail (9.2 per cent) HSD retail (2.4 per cent) ATF (0.8 per cent) FO (4.2 per cent), bitumen (21.2 per cent), lubricants (27.8 per cent), naphtha/NGL (12.2 per cent) LSHS (7.9 per cent) offset by negative growth in SKO (5 per cent).

The company achieved a crude throughput of 12.93 million tonnes during the year against 12.33 million tonnes in the previous year. The gross refining margins were $2.8 per BBL against $1.8 in the previous year for Mumbai refinery and $4.4 against $1.7 for the Vizag refinery.

The profit before taxation has nearly doubled to Rs. 2,411.79 crores from Rs. 1,222.48 crores. Interest charges claimed Rs. 153.02 crores (Rs. 294.74 crores) and depreciation Rs. 574.25 crores (Rs. 529.47 crores). The net profit after taxation was Rs. 1,537.36 crores against Rs. 787.98 crores. Net earnings worked out to Rs. 45.37 per share against Rs. 23.26 in the previous year.

The board has recommended a final dividend of 180 per cent in addition to the interim dividend of 20 per cent paid during the year. The dividend was 100 per cent last year.

On a consolidated basis gross sales were Rs. 53,996.08 crores and the net profit after taxation Rs. 1,467.96 crores. The consolidated financial results included the audited results of subsidiary company Guru Gobind Singh Refineries and joint venture companies Hindustan Colas, Prize Petroleum Co, Mangalore Refineries & Petrochemicals, South Asia LPG Co., Petronet MHB and Petronet India.

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