Annual Report 2008-2009 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 2008-2009. During the financial year, The Company achieved highest-ever Sales Revenue of Rs. 639,682 million; 6% more than the previous year. The Company has earned a Net Profit of Rs.161,263 million (down 3.45% from Rs. 167,016 million in 2007-08). The Company also registered a gross revenue of Rs. 650,494 million, (up 5.7 % from Rs. 615,426 million in 2007-08), despite sharing under-recoveries of Rs. 282,252 million (Rs. 220,009 million in 2007-08). The company had paid an Interim Dividend of Rs. 18/- per share (180%) in December 2008.

The Board of Directors has recommended a final dividend of Rs.14 per share (140%) making the aggregate dividend at Rs. 32 per share (320%), same as previous year’s Rs.32 per share (320%). The total dividend will absorb Rs. 68,444 million, besides Rs 11,632 million as the tax on dividend.

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