| |
|
|
| |
| UNAUDITED
FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 30TH SEPTEMBER,
2006 |
| |
19th October, 2006, ONGC
News
(Rs. In lakh) |
| Sl. |
Particulars |
Unaudited |
Unaudited |
Audited |
| No. |
|
For the Quarter ended |
For the Half Year ended |
For the Year ended |
| |
|
30.09.2006
|
30.09.2005
|
30.09.2006
|
30.09.2005
|
31.03.2006 |
| 1 |
Gross Sales/Income from Operations |
14146.57
|
12728.04
|
28822.89
|
23681.28
|
48200.87
|
| |
Less: Excise Duty Recovered |
78.02
|
48.57
|
151.57
|
132.42
|
278.00
|
| |
Net Sales/Income from Operations |
14068.55
|
12679.47
|
28671.32
|
23548.86
|
47922.87
|
| 2 |
Other Income |
939.71
|
863.84
|
1359.66
|
1162.76
|
2354.99
|
| 3 |
Total Expenditure |
7028.73
|
5524.46
|
13522.07
|
10289.09
|
20577.02
|
| |
a) (Increase)/Decrease instock-in-trade |
25.33
|
4.16
|
50.17
|
2.35
|
(211.58)
|
| |
b) Purchases (Trading) |
1634.84
|
1214.38
|
3307.01
|
2150.02
|
3433.79
|
| |
c) Consumption of rawmaterials* |
64.52
|
53.71
|
141.64
|
87.19
|
373.17
|
| |
d) Staff expenditure |
627.43
|
235.24
|
924.88
|
515.94
|
1272.66
|
| |
e) Statutory levies |
2981.62
|
2662.24
|
6095.62
|
5161.80
|
9695.67
|
| |
f) Other expenditure |
1694.99
|
1354.73
|
3002.75
|
2371.79
|
6013.31
|
| 4 |
Interest |
4.10
|
5.51
|
7.38
|
7.69
|
46.97
|
| 5 |
Depreciation** |
1847.26
|
1936.35
|
4078.12
|
3288.08
|
8457.28
|
| 6 |
Profit before Tax and Extraordinary Items (1+2-3-4-5)
|
6128.17
|
6076.99
|
12423.41
|
11126.76
|
21196.59
|
| 7 |
Extraordinary Items-Excess of Insurance Claims over
book value
|
|
|
|
|
640.54 |
| 8 |
Profit before Tax (6+7)
|
6128.17
|
6076.99
|
12423.41
|
11126.76
|
21837.13 |
| 9 |
Provision for taxation |
|
|
|
|
|
| |
a) Current Year |
2115.80
|
1905.40
|
4516.60
|
3605.80
|
6348.10
|
| |
b) Earlier Years |
0.00
|
92.77
|
0.00
|
92.77
|
92.61
|
| |
c) Deferred Tax Liability(Asset) |
(171.25)
|
(71.92)
|
(405.47)
|
(50.20)
|
911.29
|
| |
d) Fringe Benefit Tax |
9.64
|
12.49
|
19.31
|
21.26
|
54.35
|
| |
Sub Total (a+b+c+d) |
1954.19
|
1938.74
|
4130.44
|
3669.63
|
7406.35
|
| 10 |
Net profit (6-7) |
4173.98
|
4138.25
|
8292.97
|
7457.13
|
14430.78
|
| 11 |
Paid-up equity sharecapital (Face value of share Rs.
10) |
1425.92
|
1425.93
|
1425.92
|
1425.93
|
1425.93
|
| 12 |
Reserves excludingrevaluation reserves*** |
|
|
|
|
51917.40
|
| 13 |
Earning per share excl. extraordinary Items - Basic
& Diluted (Rs.)
|
29.27
|
29.02
|
58.16
|
52.30
|
98.22
|
| 14 |
Earning per share incl. extraordinary Items - Basic
& Diluted (Rs.)
|
29.27
|
29.02
|
58.16
|
52.30
|
101.20 |
| 15 |
Aggregate of non-promoter shareholding
|
|
|
|
|
|
| |
-Number of shares |
368754569
|
368773541
|
368754569
|
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 |
| Segment
wise Revenue, Results and Capital Employed under Clause 41 of
the Listing Agreement |
| Segment wise Revenue, Resultsand Capital
Employed under Clause 41 of the Listing Agreement |
| |
|
|
|
|
|
(Rs. in Lakh) |
| Sl. |
|
Unaudited |
Unaudited |
Audited |
| No. |
|
For the Quarter ended |
For the Half Year ended |
for the year ended |
| |
|
30.09.2006
|
30.09.2005
|
30.09.2006
|
30.09.2005
|
31.03.2006 |
| 1 |
Segment Revenue |
|
|
|
|
|
| |
A) Offshore |
10181.39
|
8829.67
|
20620.23
|
16662.51
|
34194.15 |
| |
B) Onshore |
4271.30
|
4112.60
|
8652.74
|
7320.20
|
15004.19 |
| |
Total |
14452.69
|
12942.27
|
29272.97
|
23982.71
|
49198.34 |
| |
Less: Inter Segment Revenue |
|
|
|
|
|
| |
Net sales/income fromoperations |
14452.69
|
12942.27
|
29272.97
|
23982.71
|
49198.34 |
| |
|
|
|
|
|
|
| 2 |
Segment ResultProfit(+)/Loss(-) before tax and |
|
|
|
|
|
| |
interest from eachsegment |
|
|
|
|
|
| |
A) Offshore |
5496.55
|
4653.68
|
11297.57
|
9170.20
|
16990.61 |
| |
B) Onshore |
212.41
|
959.34
|
556.25
|
1399.73
|
3492.24 |
| |
Total |
5708.96
|
5613.02
|
11853.82
|
10569.93
|
20482.85 |
| |
|
|
|
|
|
|
| |
Less: |
|
|
|
|
|
| |
i. Interest Payment |
4.10
|
5.51
|
7.38
|
7.69
|
46.97 |
| |
ii. Other unallocable expenditure net of unallocable
income. |
(423.31)
|
(469.48)
|
(576.97)
|
(564.52)
|
(760.71) |
| |
|
|
|
|
|
|
| |
Profit before Tax and Extraordinary Items
|
6128.17
|
6076.99
|
12423.41
|
11126.76
|
21196.59 |
| |
Extraordinary Items-Excess of Insurance Claims over
book value |
|
|
|
|
640.54 |
| |
Profit before Tax
|
6128.17
|
6076.99
|
12423.41
|
11126.76
|
21837.13 |
| |
|
|
|
|
|
|
| 3 |
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
| |
A) Offshore |
18968.03
|
17902.27
|
18968.03
|
17902.27
|
16430.74 |
| |
B) Onshore |
12185.05
|
12280.67
|
12185.05
|
12280.67
|
13549.81 |
| |
Total |
31153.08
|
30182.94
|
31153.08
|
30182.94
|
29980.55 |
| |
Unallocated Corporate Assets less Liabilities |
31101.81
|
24119.47
|
31101.81
|
24119.47
|
23979.12 |
| |
Grand Total |
62254.89
|
54302.41
|
62254.89
|
54302.41
|
53959.67 |
| Note: |
| Segment Revenue in respect of onshore
segment for the current quarter and half year ended 30th
September, 2006 includes Rs. 1636.29 crore (Previous quarter-
Rs. 1215.69 crore) and Rs. 3309.70 crore (Previous half
year- Rs. 2152.02 crore) on account of tra |
Notes :
1. In terms of the decision of the GOI, the company has
shared under recoveries of Oil Marketing Companies (OMCs)
for the 2nd 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 Half
Year ended |
For the Year
ended |
| |
30.09.2006 |
30.09.2005 |
30.09.2006 |
30.09.2005 |
31.03.2006 |
| Gross Discount |
5032.00 |
2876.00 |
10152.00 |
5703.86 |
11956.49 |
| Decrease in Sales Revenue |
4826.82 |
2876.00 |
9766.83 |
5703.86 |
11956.49 |
| Decrease in Profit before tax |
4560.29 |
2634.36 |
9236.30 |
5216 |
10867.66 |
2. Gross sales and purchases for the quarter include Rs.
1636.29 crore (previous quarter Rs. 1215.69 crore) and
Rs. 1634.83 crore (previous quarter Rs. 1214.38 crore)
respectively on account of trading of MRPL products, a
subsidiary of ONGC. Similarly, gross sales and purchases
for the half year include Rs. 3309.70 crore (previous
half year Rs. 2152.02 crore) and Rs. 3307.01crore (previous
half year 2150.02 crore) respectively.
3. 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.17
crore and Rs. 27 crore has been made in the current quarter
and half year respectively in this respect on an estimated
basis.
4. The statutory auditors in their report on the accounts
for the year 2005-06 have commented on accounting treatment
of side tracking cost in respect of abandoned portion
of wells for which a reference was made to The Institute
of Chartered Accountants of India (ICAI) by the company.
Since the opinion was received on 31.05.2006, and the
company has sought certain specific clarifications, no
accounting adjustment has been made in the current quarter.
5. In accordance with the ICAI Guidance note on VAT accounting,
the sales turnover is net of VAT of Rs. 587.97 crore and
Rs. 1222.90 crore during current quarter and half year
respectively whereas sales turnover of corresponding periods
of previous year are inclusive of VAT.
6. 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 record date for the issue has been fixed as 30th October,
2006.
7. Hazira gas processing complex experienced unprecedented
floods resulting in total plant shutdown from 07.08.2006
to 19.08.2006. The operations were fully restored on 08.09.2006.
The estimated revenue loss on this account is Rs. 485.28
crore.
8. Staff expenditure includes Rs. 305 crore on account
of Golden Jubilee and additional annual incentive.
9. Other expenditure includes an amount of Rs. 365 crore
on account of liquidated damages payable to GOI for extension
of License period/surrender of NELP blocks.
10. Information on investors’ complaints pursuant
to clause 41 of Listing Agreement for the quarter ended
30th September , 2006:
|
Opening Balance |
Additions |
Disposals |
Closing Balance |
No. of complaints |
7 |
17 |
24 |
Nil |
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 approved by the
Board of Directors in its meeting held on 19th October,
2006 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: October 19th, 2006 |
(R.S.Sharma)
Chairman & Managing Director
and Director (Finance)
|
|
| |
 |
|
|
