Date:23/04/2005 URL: http://www.thehindu.com/2005/04/23/stories/2005042301481700.htm

Business - Briefly

ONGC profits rise by 47 p.c.

NEW DELHI: The net profit of Oil and Natural Gas Corporation (ONGC) rose by 47 per cent to reach Rs. 12,725 crores during 2004-05 from Rs. 8,664 crores in the previous fiscal. Turnover also shot up by 43 per cent to Rs. 47,025 crores from Rs. 32,927 crores, according to the provisional unaudited results for 2004-05. A company release says these figures exclude the transfer of Rs. 3,114 crores profit to oil marketing companies of IOC, BPCL and HPCL on the instructions of the Petroleum Ministry. The company's contribution to central and state exchequer by way of royalty, cess, duties and taxes increased by 20 per cent to Rs. 20,200 crores from Rs. 16,858 crores last year.