Annual Report 2004-2005 of Oil and Natural Gas Corporation Limited

It is a broadly described annual report of Oil and Natural Gas Corporation Limited in the year of 2004-2005. During the financial year, The Company registered the substantial increase of 43.5% in gross revenue, from Rs. 329,270 million in the year 2003-04 to Rs. 472,454 million. Net profit for the year 2004-05 is Rs. 129,830 million, up 49.8% from Rs. 86,644 million in 2003-04. During the year, The Company made export sales worth Rs. 12,062.64 million and earned trading revenue against a sale of MRPL products amounting to Rs. 51,040 million.

The Board of Directors has recommended a final dividend of Rs. 20/- per share (200%), making the aggregate dividend at Rs 40/- per share (400%), against previous year’s Rs. 24/- per share. The total dividend will absorb Rs. 57,037 million, besides Rs. 7,763 million as the tax on dividend.

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