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BPCL PAYS 40% INTERIM DIVIDEND
New Delhi ~ July 5, 2001
Bharat Petroleum Corporation Ltd (BPCL) a PSU under Petroleum Ministry has paid an interim dividend of Rs. 79.44 crore to the Government of India for the year 2000-2001 at the rate of 40%. The cheque of said amount was handed over to the Minister of Petroleum & Natural Gas
Shri Ram Nailk here today by Shri U. Sundarajan C&MD BPCL. Interim Dividend payments to all other shareholders are also being made simultaneously by the Company. Shri Santosh Gangwar Minister of State for Petroleum and Natural Gas and Petroleum Secretary Shri Vijayendra N. Kaul were present alongwith other senior officers of the Petroleum Ministry and BPCL
Shri Naik was informed that BPCL has declared a total dividend of 75% on the enhanced equity capital (consequent to 1:1 Bonus given during the year) for 2000-2001 as against 125% on pre bonus equity during the previous year. The Government of India holds 66.2% of BPCLs total equity of Rs. 300 crore.
Bharat Petroleum has ended the year 2000/2001 with a record high in sales as well as profits. The gross turnover recorded a jump of 31.1% to Rs. 46853 crore as against Rs. 35743 crore during the previous year. Market sales stand at 19.35 million tonnes up 3.6% from 18.68 million tonnes during the previous year. The net profit for the year stood at Rs. 820.1 crore up by 16.5% from Rs. 703.9 crore. Earning per share (EPS) on the enhanced equity works out to Rs. 27.34 as against pre-bonus EPS of Rs. 46.92 last year.
Expressing satisfaction over the excellent performance of BPCL Shri Ram Naik asked them to further intensify the drive against adulteration and other mal-practices in the marketing of petroleum products. He hoped that tamper proof locking system on tank lorries and "Pure and Sure" programme introduced by BPCL at 100 retail outlets in eight cities as a pilot project will prove a success. He suggested that the "Pure and Sure" programme need to be further expanded to prevent tampering with oil tankers during transit and also at the retail outlets. This programme which include stringent quality measures like comprehensive sealing of pumps tamper proof lock on lorries frequent sampling and surprise checks also call for customer education programme. Shri Naik reminded that Government has taken up as a mission to supply right quality and quantity of petroleum products at the doorstep of consumers. "Several steps taken in that direction have started yielding results but there is always a scope for improvement." Shri Naik added.
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