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Our Bureau

New Delhi, Aug. 21

Oil India Ltd, which finalised its annual accounts for 2005-06, said on Monday that the company decided to pay a final dividend of 80 per cent, making the total dividend for 2005-06 to 265 per cent against the total dividend of 160 per cent for 2004-05.

According to a statement issued by the company, OIL recorded a total income of Rs 6,036.56 crore, which is higher by 46 per cent compared to last year. Profit after tax during 2005-06 was Rs 1,689.93 crore against the PAT of Rs 1,061.68 crore in the previous year. The increase in total income and the profit were mainly on account of higher sales volume of crude oil and natural gas, coupled with increase in crude oil price, the company said.

The crude oil sales in 2005-06 was 3.16 MMT and natural gas sales was 1.74 BCM. The company's contribution to Central and State exchequers also increased by 41.79 per cent and 42.15 per cent respectively. The contribution to Central exchequer was Rs 2,209 crore and that to the State was Rs 1,081.68 crore. The company gave a discount of Rs 977.49 crore on crude oil and LPG towards the sharing of under recoveries suffered by the oil marketing companies.

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