Annual Report 2007-2008 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 2007-2008. During the financial year, The Company registered gross revenue of Rs. 61,543 Crore in year 2007-08, up 4.2% from Rs. 59,058 Crore. The Company’s Net Profit of Rs. 16,702 Crore; up 6.8% from Rs. 15,643 Crore in 2006-07. The group turnover was at Rs. 103,717 Crore in 2007-08 against Rs. 89,993 Crore in 2006-07; an increase of 15%. Net Profit of the Group registered a growth of 11.8% at Rs. 19,872 Crore in 2007-08 against Rs. 17,770 Crore in 2006-07. The Company’s Plan Expenditure of Rs. 17,651 Crore during the year was also the highest-ever. The budgeted Capex for the current fiscal 2008-09 is Rs. 19,338 Crore; about 10% more than the last year actuals. The company had paid an interim dividend of Rs. 18/- per share (180%) in December 2007.

The Board of Directors has recommended the final dividend of Rs. 14 per share (140%) shall be paid in the next few days; making an aggregate dividend payout of Rs. 32 per share (320%); totaling to Rs. 6,844 Crore. This is beside Rs. 1,163 Crore payable as the tax on dividend.

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