Friday, May 31, 2002
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By Our Special Correspondent
The corporation has maintained the dividend at 100 per cent (Rs. 10 per share). The dividend for 2001-02 will absorb Rs. 339.33 crores. HPCL achieved a sales turnover of Rs. 45,287 crores against Rs. 47,117 crores. It earned a gross profit of Rs. 2,046.70 crores against Rs. 2,140.90 crores. Addressing a press conference here today H. L. Zutshi, Chairman and Managing Director of HPCL, said the corporation achieved total sales volume of 18.02 million tonnes which is 19.7 per cent of the total sales of petroleum products. On the exit of Aditya Birla group from Mangalore Refineries and Petrochemicals (MRPL) in which HPCL is also a significant shareholder, the chairman said they were proactive to the issue. However, the capital restructuring of the MRPL should precede the Birla Group's exit. Mr. Zutshi also informed that construction work was in progress for additional product tankage and allied facilities at Padapalli, Hassan and Irumpanam with total tankage of 1.09 lakh kl at an estimated cost of Rs. 112.71 crores. The projects are scheduled to be completed in phases during 2002-03. Capacity augmentation of ten LPG bottling plants to the extent of 2.80 lakh tpa is in progress and is expected to be completed during 2002-03.
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