IOC net up 10.4 per cent

Indian Oil Corporation announced a 10.4 per cent growth in net profit at Rs. 2,443.4 crores during 1999-2000 against Rs. 2,213.52 crores in the corresponding period the previous year.

The company's turnover also increased by 35.6 per cent at Rs. 94,263.73 crores during 1999-2000 against Rs. 69,511.63 crores during the same period last year.

The directors had also declared two interim dividends of 35 per cent and 40 per cent for the year 1999-2000 which on consideration of bonus shares effectively stands at 150 per cent.

This would absorb an amount of Rs. 584 crores as compared to Rs. 506 crores during the year 1998-99, it said.

ONGC

Oil and Natural Gas Corporation announced a 31 per cent rise in its net profit at Rs. 3,629.47 crores during 1999-2000 against Rs. 2,754.50 crores in the same period last year.

Sales rose by 34.27 per cent during the last fiscal at Rs. 20,090.64 crores against Rs. 14,962.80 crores during the same period last year.

Net earnings per share work out to Rs. 25.5 against Rs. 19.3 in 1918-99.

The Corporation has declared an interim dividend of 40 per cent on the paid up equity share capital of the company. The directors have further recommended a final dividend of 25 per cent.

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Section  : Business
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