| |
|
|
| |
| UNAUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 31ST DECEMBER,
2006 |
| |
30th January, 2007, ONGC
News
(Rs. in crore)
|
| Sl.No. |
Particulars |
Unaudited
For the Quarter ended |
Unaudited
For the Nine Months ended |
Audited
For the Year ended |
31.12.2006
|
31.12.2005
|
31.12.2006
|
31.12.2005
|
31.03.2006 |
| 1 |
Gross Sales/Income from Operations |
15631.34
|
12547.30
|
44454.23
|
36228.58
|
48200.87
|
| |
Less: Excise Duty Recovered |
66.82
|
71.66
|
218.39
|
204.08
|
278.00
|
| |
Net Sales/Income from Operations |
15564.52
|
12475.64
|
44235.84
|
36024.50
|
47922.87
|
| 2 |
Other Income |
704.49
|
562.37
|
2064.15
|
1725.13
|
2354.99
|
| 3 |
Total Expenditure |
6655.25
|
5114.98
|
20177.32
|
15404.07
|
20577.02
|
| |
a) (Increase)/Decrease instock-in-trade |
(51.38)
|
(4.84)
|
(1.21)
|
(2.49)
|
(211.58)
|
| |
b) Purchases (Trading) |
1378.84
|
526.64
|
4685.85
|
2676.66
|
3433.79
|
| |
c) Consumption of rawmaterials* |
161.75
|
49.44
|
303.39
|
136.63
|
373.17
|
| |
d) Staff expenditure |
502.04
|
254.01
|
1426.92
|
769.95
|
1272.66
|
| |
e) Statutory levies |
3058.22
|
2706.36
|
9153.84
|
7868.16
|
9695.67
|
| |
f) Other expenditure |
1605.78
|
1583.37
|
4608.53
|
3955.16
|
6013.31
|
| 4 |
Interest |
7.67
|
6.97
|
15.05
|
14.66
|
46.97
|
| 5 |
Depreciation** |
2557.59
|
2011.82
|
6635.71
|
5299.90
|
8457.28
|
| 6 |
Profit before Tax and Extraordinary Items (1+2-3-4-5)
|
7048.50
|
5904.24
|
19471.91
|
17031.00
|
21196.59
|
| 7 |
Extraordinary Items-Excess of Insurance Claims over
book value
|
|
|
|
|
640.54 |
| 8 |
Profit before Tax (6+7)
|
7048.50
|
5904.24
|
19471.91
|
17031.00
|
21837.13 |
| 9 |
Provision for taxation |
|
|
|
|
|
| |
a) Current Year |
2465.00
|
2030.35
|
6981.60
|
5636.15
|
6348.10
|
| |
b) Earlier Years |
0.00
|
0.00
|
0.00
|
92.77
|
92.61
|
| |
c) Deferred Tax Liability(Asset) |
(105.91)
|
(35.93)
|
(511.38)
|
(86.13)
|
911.29
|
| |
d) Fringe Benefit Tax |
21.10
|
22.06
|
40.41
|
43.32
|
54.35
|
| |
Sub Total (a+b+c+d) |
2380.19
|
2016.48
|
6510.63
|
5686.11
|
7406.35
|
| 10 |
Net profit (6-7) |
4668.31
|
3887.76
|
12961.28
|
11344.89
|
14430.78
|
| 11 |
Paid-up equity sharecapital (Face value of share Rs.
10) |
2138.87
|
1425.93
|
2138.87
|
1425.93
|
1425.93
|
| 12 |
Reserves excludingrevaluation reserves*** |
|
|
|
|
51917.40
|
| 13 |
Earning per share excl. extraordinary Items - Basic
& Diluted (Rs.)
|
21.83
|
18.17
|
60.60
|
53.04
|
65.48
|
| 14 |
Earning per share incl. extraordinary Items - Basic
& Diluted (Rs.)
|
21.83
|
18.17
|
60.60
|
53.04
|
67.47 |
| 15 |
Aggregate of non-promoter shareholding
|
|
|
|
|
|
| |
-Number of shares |
553131854
|
368773541
|
553131854
|
368773541
|
368773541
|
| |
-Percentage of shareholding |
25.86
|
25.86
|
25.86
|
25.86
|
25.86
|
|
*Represents
consumption of raw materials, stores & spares.
** Also includes depletion, amortisation and impairment loss
***Reserves excluding intangibles
# Adjusted for issue of bonus shares in the ratio
of 1:2 as per Accounting Standard 20 on EPS.
## Number of shares for previous periods have not been adjusted
for issue of bonus shares.
|
| Segment
wise Revenue, Results and Capital Employed under Clause 41 of
the Listing Agreement |
| |
(Rs. in crore) |
Sl. No. |
|
Unaudited
For the Quarter ended |
Unaudited
For the Half Year ended |
Audited
for the year ended |
31.12.2006
|
31.12.2005
|
31.12.2006
|
31.12.2005
|
31.03.2006 |
| 1 |
Segment Revenue |
|
|
|
|
|
| |
A) Offshore |
11183.03
|
9496.16
|
31803.26
|
26158.67
|
34194.15 |
| |
B) Onshore |
4604.01
|
3420.28
|
13256.75
|
10740.48
|
15004.19 |
| |
Total |
15787.04
|
12916.44
|
45060.01
|
36899.15
|
49198.34 |
| |
Less: Inter Segment Revenue |
|
|
|
|
|
| |
Net sales/income fromoperations |
15787.04
|
12916.44
|
45060.01
|
36899.15
|
49198.34
|
| |
|
|
|
|
|
|
| 2 |
Segment ResultProfit(+)/Loss(-) before tax and |
|
|
|
|
|
| |
interest from eachsegment |
|
|
|
|
|
| |
A) Offshore |
5675.17
|
4923.14
|
16972.73
|
14093.34
|
16990.61 |
| |
B) Onshore |
947.48
|
889.69
|
1503.73
|
2289.42
|
3492.24 |
| |
Total |
6622.65
|
5812.83
|
18476.46
|
16382.76
|
20482.85 |
| |
|
|
|
|
|
|
| |
Less: |
|
|
|
|
|
| |
i. Interest Payment |
7.67
|
6.97
|
15.05
|
14.66
|
46.97 |
| |
ii. Other unallocable expenditure net of unallocable
income. |
(433.52)
|
(98.38)
|
(1010.50)
|
(662.90)
|
(760.71)
|
| |
|
|
|
|
|
|
| |
Profit before Tax and Extraordinary Items
|
7048.50
|
5904.24
|
19471.91
|
17031.00
|
21196.59 |
| |
Extraordinary Items-Excess of Insurance Claims over
book value |
|
|
|
|
640.54 |
| |
Profit before Tax
|
7048.50
|
5904.24
|
19471.91
|
17031.00
|
21837.13 |
| |
|
|
|
|
|
|
| 3 |
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
| |
A) Offshore |
19913.98
|
17395.00
|
19913.98
|
17395.00
|
16430.74 |
| |
B) Onshore |
13032.68
|
12463.88
|
13032.68
|
12463.88
|
13549.81 |
| |
Total |
32946.66
|
29858.88
|
32946.66
|
29858.88
|
29980.55 |
| |
Unallocated Corporate Assets less Liabilities |
29586.45
|
24266.97
|
29586.45
|
24266.97
|
23979.12 |
| |
Grand Total |
62533.11
|
54125.85
|
62533.11
|
54125.85
|
53959.67 |
| Note: |
| Segment Revenue in respect of onshore
segment for the current quarter and nine months ended
31st December, 2006 includes Rs. 1381.18 crore (Previous
quarter- Rs. 527.96 crore) and Rs. 4690.88 crore (Previous
nine months- Rs. 2679.98 crore) on account of trading
of MRPL products- a subsidiary of ONGC. |
Notes :
1. In terms of the decision of the GOI, the company has
shared under recoveries of Oil Marketing Companies (OMCs)
for the 3rd quarter of 2006-07 by allowing discount in
the prices of Crude Oil, PDS kerosene and domestic LPG
based on the provisional rates of discount communicated
by Petroleum Planning and Analysis Cell (PPAC). The impact
on this account is as under:-
| Decrease in |
For the Quarter
ended |
For
the Nine Months ended |
For
the Year ended |
| |
31.12.2006 |
31.12.2005 |
31.12.2006 |
31.12.2005 |
31.03.2006 |
| Gross Discount |
2204.00 |
2843.17 |
12356.01 |
8549.55 |
11956.49 |
| Decrease in Sales Revenue |
2125.39 |
2843.17 |
11892.23 |
8549.55 |
11956.49 |
| Decrease in Profit before tax |
2030.28 |
2594.10 |
11266.58 |
7815.73 |
10867.66 |
2. Gross sales for the quarter and nine months include
Rs. 1381.18 crore (previous quarter Rs. 527.96 crore)
and Rs. 4690.88 crore (previous nine months Rs. 2679.98
crore).respectively towards trading of products of MRPL,
a subsidiary of ONGC.
3. In accordance with the ICAI Guidance note on VAT accounting,
the sales turnover is net of VAT of Rs. 671.44 crore and
Rs. 1941.46 crore during current quarter and nine months
respectively whereas sales turnover of corresponding periods
of previous year are inclusive of VAT
4. Staff expenditure during the quarter and nine months
includes Rs. 225 crore on account of proposed contribution
to Post Retirement Benefit Scheme. The expenditure during
nine months also includes Rs.303 crore towards Golden
Jubilee and Additional Annual Incentives.
5. ONGC has been representing for higher price towards
richer fraction of APM gas being supplied to GAIL. In
pursuant thereto, as per the decision of the MoPNG, the
surplus in gas pool account amounting to Rs. 908 crore
(including interest of Rs. 19 crore) lying with GAIL has
been transferred to ONGC., subject to ONGC giving an undertaking
that in case Government decides otherwise the amount would
be refunded. In view of the uncertainty involved, the
amount has been kept under Other Deposit Liability.
6. The Institute of Chartered Accountants of India (ICAI)
has issued a revised AS-15 on Employee Benefits effective
from 01.04.2006. Pending final determination of liability
in terms of said AS, for certain post retirement &
other benefit plans, an additional provision of Rs.14
crore and Rs. 41 crore has been made in the current quarter
and nine months respectively in this respect on an estimated
basis.
7. The statutory auditors in their report on the accounts
for the year 2005-06 had commented on accounting treatment
of side tracking cost in respect of abandoned portion
of wells for which a reference for opinion was earlier
made by company to The Institute of Chartered Accountants
of India (ICAI). As per the Institute’s opinion,
the cost of abandoned portion of side tracked exploratory
wells is to be charged to P&L Account. Since the company
has sought certain specific clarifications on the opinion
received from ICAI, no accounting adjustment has been
made in the current year so far pending clarifications.
8. The company in its Annual General Meeting held on 19th
September, 2006 has approved issue of bonus shares in
the ratio of 1:2, i.e. one share against two shares held.
The bonus shares have since been issued during the current
quarter, thus expanding paid up equity capital from Rs.
1425.92 Crore to 2138.87 Crore.
9. The Board of Directors had declared an interim dividend
of Rs. 18 per share (180%) amounting to Rs. 3849.97 crore
in its meeting held on 23rd December, 2006 which has since
been paid.
10. Information on investors’ complaints pursuant
to clause 41 of Listing Agreement for the quarter ended
31st December , 2006:
|
Opening Balance |
Additions |
Disposals |
Closing Balance |
No. of complaints |
Nil |
10 |
9 |
1 |
These exclude investor complaints regarding the offer
for sale upto 10% of equity shares of the company made
by the Government of India in March, 2004, which are being
attended to by the Registrar to the issue appointed by
Govt. of India.
11. The above results have been reviewed and recommended
by the Audit & Ethics Committee and taken on record
by the Board of Directors in the meeting held on 30th
January, 2007. The same are subject to limited review
by the statutory auditors of the company.
12. Previous period’s figures have been regrouped/reclassified
wherever necessary.
|
| |
| |
By order of the
Board |
Place: New Delhi
Date:: January 30th, 2007 |
(R.S.Sharma)
Chairman & Managing Director
and Director (Finance)
|
|
| |
 |
|
|
