BPCL PAYS Rs. 297 CRORE DIVIDEND
TO GOVERNMENT FOR 2002-03 AT 150%
Shri Ram Naik, Minister
of Petroleum & Natural Gas received here today a cheque of
Rs. 258.18 crore as part of the final instalment of the dividend
paid by Bharat Petroleum Corporation Limited (BPCL) for the year
2002-03. The cheque was presented to Shri Ram Naik by Shri S.
Behuria, CMD, BPCL. With this, the total dividend payment to the
Government by BPCL comes to Rs. 297.90 crore as the company had
earlier paid an interim dividend of Rs. 39.72 crore for the year
2002-03. The dividend payment by BPCL thus works out to an impressive
150% of the equity of the Government in the company which is 66.20%
of the BPCL’s total equity of Rs. 300 crore. Last year BPCL paid
a dividend of Rs. 218.46 crore to the Government at 110% of the
equity. On this occasion, Petroleum Secretary Shri B.K. Chaturvedi
and Additional Secretary Shri M.S. Srinivasan were also present
along with senior officers of the Petroleum Ministry and Directors
of BPCL.
Shri Behuria informed
the Minister that BPCL Group of Companies which also include Numaligarh
Refinery Limited and Kochi Refinery Limited is the third largest
corporate body in the country in terms of turnover after Indian
Oil Corporation and Reliance Industries Limited. Shri Naik was
further informed that the gross turnover of BPCL reached Rs. 56,818
crore during 2002-03 against Rs. 45,801 crore for the previous
year recording an increase of 24 %.
The BPCL Group of
Companies processed a total of 18.17 MMT of crude oil during the
year 2002-03. The Group achieved sales of 21.22 MMT including
exports of 0.69 MMT, which was 5.4% higher than last year sales
of 20.14 MMT including 0.24 MMT of exports. This resulted in an
increase in market share to 22.67% as compared to 22.12% last
year.
The gross profit
of the BPCL Group of companies has increased by 45% to Rs. 4,184
crore from Rs. 2,893 crore last year. This has resulted in a higher
profit after tax of Rs. 1,822 crore, up by 81% from Rs. 1,008
crore during 2001-02. The earnings per share for BPCL shareholder
after taking into account the minority interest for the year 2002-03
stood at Rs. 51.76 as against Rs. 31.04 during last year.
In respect of BPCL
as a company, profit before tax for the year rose to Rs. 1,994
crore registering an increase of 50.3% over the previous period.
Net profit for the full year concomitantly increased to Rs. 1,250
crore up 47.1% from Rs. 850 crore during 2001-02. Earnings per
share for 2002-03 stood at Rs. 41.67 as against Rs. 28.33 of last
year, an increase of 47.1%.
