Financial Daily from THE HINDU group of publications
Saturday, Jul 31, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 31, 2004 |
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Corporate Results
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Petroleum BPCL net dips 53 pc in Q1 Our Bureau
Mumbai , July 30 BHARAT Petroleum Corporation Ltd has recorded a 53.86 per cent dip in first quarter net profit to Rs 147.30 crore against Rs 319.30 crore same time last year. "Our income was higher last year because of subsidy payments we received from the Government. Also, we have spent close to Rs 38 crore on paying employees who participated in the voluntary retirement scheme," a senior BPCL official said. Net income from sales for the quarter rose 6 per cent to Rs 13,060.80 crore or Rs 4.91 per share this year compared to Rs 12,318.20 crore or Rs 10.64 per share last year. Other income was Rs 54.8 crore (Rs 79.8 crore). BPCL's total expenses for the quarter was Rs 12,714.40 crore (Rs 11,769.20 crore). Interest payments were lower at Rs 22.6 crore (Rs 33.5 crore) while depreciation was Rs 153.6 crore (Rs 115.8 crore). The company received Rs 234.79 crore towards kerosene and LPG subsidies from ONGC, GAIL India, the company told the BSE.
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