Sl No:

Particulars

Quarter ended 31.12.2004

Corresponding Quarter in the Previous Year ended 31.12.2003

Nine Months ended 31.12.2004

Corresponding
Nine months in the
Previous year
ended 31.12.2003

Accounting
year ended
31.03.2004
(Audited)

1.

Gross Sales / Income from Operation
Less: Excise Duty
Net Sales/Income from Operation

2387.19

169.43
2217.76

11019.86

1168.87
9850.99

6586.83

533.73
6053.10

9475.96

736.93
8739.03

2.

Other Income

15.37

6.30

29.16

19.48

30.41

3.

Total Expenditure

3842.35

2045.37

9010.57

5678.94

8032.92

a) (Increase) / Decrease in stock-in trade

(71.38)

(21.79)

(414.53)

5.26

(59.51)

b)Consumption of raw materials and purchase of products for re-sale

3753.11

1982.84

9037.13

5429.57

7686.05

c) Staff Cost

24.07

23.20

64.59

76.36

100.31

39.00

9.85

57.06

10.03

(4.45)

e) Other Expenditure

97.55

51.27

266.32

157.72

310.52

4.

Interest

39.50

5.04

98.10

35.88

46.80

5.

Depreciation

56.83

25.28

159.59

77.68

117.46

6.

Profit (+) / Loss (-) Before Tax     (1+2-3-4-5)

144.98

148.37

611.89

280.08

572.26

7.

Provision for Taxation
-Current

28.91

16.21

71.10

26.33

99.10

8.

Profit after Current Tax (6-7)

116.07

132.16

540.79

253.75

473.16

9.

Provision for Taxation - Deferred

27.81

26.90

161.42

74.15

73.11

10.

Net Profit (+) / loss (-) (8-9)

88.26

105.26

379.37

179.60

400.05

11.

Paid-up Equity Share Capital (Face Value Rs. 10/-)

149.00

149.00

149.00

149.00

 149.00

12.

Reserves excluding revaluation reserves (as per balance sheet) of previous accounting year

--

--

--

--

1460.91

13.

Basic and diluted earnings per share (Rupees)

*5.93

*7.07

*25.47

*12.06

26.86

14.

Aggregate of non-promoters' share holding:
- No of Shares
-Percentage

48745100
    32.73

48745100
    32.73

48745100
    32.73

48745100
    32.73

48745100
    32.73

15.

2.420

1.817

6.309

5.083

7.040

Notes:
1. The above results have been reviewed and recommended by the Audit Committee and taken on record by the Board of Directors at its meeting held on 24.01.2005.

2. The company operates only in one segment, Petroleum Sector. As such reporting is done on a single segment basis.

3. The future profit is subject to variation on account of fluctuations in the prices of crude and petroleum products in the international market and Government policy on duty structure.

4. Gross Refining Margin for the quarter was $ 3.83 / bbl (previous year $ 3.94 / bbl) . Gross Refining Margin upto the quarter was $ 5.16 / bbl ( previous year $ 3.43 / bbl) . (Previous financial year – $ 4.39 / bbl).

5. Increase in Excise Duty is on account of payment of Excise Duty at Refinery Gate consequent to withdrawal of warehousing procedure effective 06.09.2004.

6. Other expenditure includes CST under recovery of Rs.28.46 crore for the current quarter and Rs.60.68 crore upto the current quarter. CST under recovery of Rs.65.39 crore for the full year 2003-04 was accounted during the last quarter of 2003-04.

7. Figures have been re-grouped wherever necessary.

8. Status of Investor Complaints : Pending at the beginning of the quarter - NIL. Complaints received and disposed off during the quarter - 227. Pending at the end of the quarter - NIL.

9. The above results are subject to ‘Limited Review’ by the Statutory Auditors of the company.

For and on behalf of the Board of Directors