Chennai Petroleum Corporation Limited (CPCL) has declared
dividend of 120% for the year 2005-06. This includes the 30%
interim dividend paid in February 2006. This was announced
by Mr.S.Behuria, Chairman, IndianOil Group Companies, at the
Company’s 40 th Annual General Meeting (AGM) in Chennai
today (25.08.2006). CPCL has been maintaining uninterrupted
dividend paying record for the 35 th consecutive year.
The turnover for the year 2005-06 was the highest-ever at
Rs.25,409 Crore as against Rs.16,270 Crore in the previous
year registering an increase of about 56%. The turnover was
higher mainly due to increase in crude thruput and higher
prices for the products based on import-parity. The Profit
After Tax (PAT) for 2005-06 is Rs.481 Crore as against Rs.597
Crore for the previous year. It may be noted that CPCL provided
Rs.439 crore as discounts to oil marketing companies (OMCs)
as part of subsidy sharing scheme in respect of SKO (PDS),
LPG (Domestic), MS and HSD) for the year 2005-06.
The crude thruput for the year 2005-06 was highest-ever at
10.36 Million Metric Tonnes (MMT) against MoU target of 10.2
MMT. The crude processing was 16% higher than the previous
year crude thruput of 8.92 MMT.
CPCL has investment plans of about Rs.5000 crore on various
projects including Auto fuel quality upgradation and Resid
Upgradation Projects. In addition, CPCL is studying the feasibility
of setting up a grass root 15 MMTPA Refinery cum petrochemical
complex near Ennore.
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