28th October
2004, ONGC News
| No. |
Particulars |
Unaudited For
Quarter Ended |
Unaudited For the
Half Year Ended |
Audited
For the Year Ended |
| 30.09.04 |
30.09.03 |
30.09.04 |
30.09.03 |
31.03.04 |
| 1. |
Sales/Income from Operations |
1190261 |
878454 |
2228987 |
1671238 |
3251192 |
| |
Less: Excise Duty Recovered |
8642 |
12296 |
17938 |
18396 |
44799 |
| |
Net Sales/Income from Operations |
1181619 |
866158 |
2211049 |
1652852 |
3206393 |
| 2. |
Other Income |
47310 |
46391 |
77513 |
74002 |
154708 |
| 3. |
Total Expenditure |
545745 |
364470 |
1059903 |
688700 |
1438336 |
| |
a) (Increase) / Decrease in stock-in-trade |
511 |
239 |
(1744) |
(2046) |
11150 |
| |
b)Purchase |
116993 |
0 |
249738 |
0 |
0 |
| |
c) Consumption of raw materials* |
3602 |
4109 |
6680 |
7477 |
13507 |
| |
d) Staff expenditure |
28171 |
27874 |
59821 |
50051 |
95525 |
| |
e) Statutory levies |
254754 |
213240 |
496269 |
420257 |
846760 |
| |
f) Other expenditure |
141714 |
119008 |
259139 |
208869 |
481429 |
| 4. |
Interest |
229 |
1013 |
1048 |
1423 |
4675 |
| 5. |
Depreciation** |
153349 |
129800 |
315690 |
256332 |
557186 |
| 6. |
Profit before Tax (1+2-3.45) |
529606 |
417266 |
911921 |
780399 |
1360904 |
| 7. |
Provision For Taxation |
|
| |
a) Current Year |
2060400 |
1486000 |
3690800 |
2880000 |
435160 |
| |
b) Earlier Years |
0 |
0 |
0 |
0 |
(1416) |
| |
c) Deferred Tax Liability (Asset) |
(14821) |
(13834) |
(26366) |
(3555) |
60717 |
| |
Sub Total(a+b+c) |
(191219) |
(134766) |
342714 |
284445 |
494461 |
| 10. |
Net Profit (6-7) |
338387 |
282500 |
569207 |
495954 |
866443 |
| 11. |
Paid-up equity share capital (Face
value of share Rs. 10) |
142593 |
142593 |
142593 |
142593 |
142593 |
| 12. |
Reserves excluding revaluation reserves*** |
|
|
|
|
3832649 |
| 13. |
Earning per share - Basic & Diluted
(Rs.) |
23.73 |
19.81 |
39.92 |
34.78 |
60.76 |
| 14. |
Aggregate Of Non-promoter Shareholding |
|
| - |
Number of shares |
368773541 |
226594405 |
368773541 |
226594405 |
368560245 |
| - |
Percentage of shareholding |
25.86 |
15.89 |
25.86 |
15.89 |
25.86 |
* Represents consumption of stores & spares
**Reserves excluding intangibles
NOTES:
1.The above results have been reviewed by Audit Committee
and taken on record by the Board of Directors in his meeting
held on 28th October, 2004.
2.Rs. 178217 lakh has been accounted during the current year
towards reduction in prices to Oil Marketing Companies (OMC)
on crude oil, PDS Kerosene and domestic LPG as part of share
of subsidy per Government of India’s advice. The resultant
impact for the current year on profit before tax and on profit
after tax is Rs. 167,123 lakh and Rs. 109969 lakh respectively.
The impact of similar reduction for the corresponding period
of previous half year on profit before tax and on profit after
tax amounts to Rs. 123256 lakh and Rs. 79038 lakh respectively
was not accounted for as the order of Government of India
were received in October 2003 and April 2004.
3.Gross sales during the current quarter and half year ended
30th September 2004 included Rs. 116993 lakh and Rs. 249738
lakh respectively on accounting of trading.
4.The company is in the process of conducting an exercise
for identification of impaired assets, if any, required by
AB28-impanlement of Arise is issued by the Institute of Chartered
Accountants. Accordingly, no effect has been considered in
the above results for such impalement, if any.
5.The statutory auditors in their report on the accounts
for the year 2004-04 had commended on incorporation of unaudited
figures relating to some joint venture projects
& NELP blocks as well as non-adjustment of differences
between physical verification of inventories, Fixed Assets
and Capital Shares vis-à-vis the books of accounts
in some if the cases.
Management Clarification:
Audited Accounts of JV’s were not available until initiation
of accounts. Regaining difference between physical verification
and books of accounts executive steps are being taken for
reconciliation, Management does not envisage any significant
impact of these adjustments on the above financial results.
6.The above quarterly results are subject to limited review
by the statutory auditors of the company.
7.Previous period’s figures have been regrouped/ reclassified
wherever necessary.
8.The number of investor complaints pending at the beginning
of the quarter was 7. During the quarter 49 complaints were
received and 52 complaints were cleared. 4 complaints were
pending as on 30.09.2004. this excludes investor’s complaints
regarding the offer for sale up to 10% of equity shares of
the company made by the Government of India, which are being
attended to by the Registrar to the issue appointed by Govt.
of India.
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