Annual Report 2013-2014 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 2013-2014. During the financial year, The Turnover of the Company stood at Rs. 842,028 million, the highest-ever. The turnover of the ONGC Group at Rs. 1,782,051 million has also been the highest-ever. During 2013-14, The Company had to share the highest-ever contribution of Rs. 563,843 million (an increase of Rs. 69,636 million i.e. 14% over the previous year) towards the under-recoveries of OMCs. This has impacted The Company’s Profit before Tax by Rs. 477,561 million and Profit after Tax by Rs. 315,238 million. However, The Company has been able to achieve Net Profit of Rs. 220,948 million during 2013-14, which is 5.6% higher than the profit of 2012-13. The company paid an interim dividend of Rs. 9.25 per share (185 percent) in two phases (Rs. 5.00 and Rs. 4.25).

The Board of Directors has recommended a final dividend of Rs. 0.25 per share (5 percent) making the aggregate dividend at Rs. 9.50 per share (190 percent) for FY 13-14 i.e. same as compared to the dividend for the year 2012-13. The total dividend will be Rs. 81,277 million, besides Rs. 13,807 million as the tax on dividend amounting to 43.03 percent of PAT.

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