The state-owned Hindustan Petroleum Corporation Ltd has posted a 95 per cent increase in the net profit at Rs 1537.36 crore (Rs 15.37 billion) for the financial year ended March 31, 2003 as against Rs 787.98 crore (Rs 7.88 billion) in 2001-02.
The board, which met in New Delhi, has recommended the highest ever dividend of 180 per cent (Rs 18 per share) for 2002-03, with a total payout of Rs 689.05 crore (Rs 6.89 billion), the company said in a release on Friday.
This dividend by the company, which is due for strategic divestment this year, was in addition to the interim 20 per cent dividend (Rs two per share) announced in February 2003, taking the total dividend for FY03 to 200 per cent, it said.
The company posted a 16.1 per cent rise in its turnover for 2002-03 at Rs 52,605 crore (Rs 526.05 billion) as against Rs 45,310 crore (Rs 453.10 billion) in 2001-02, the release said.
The combined refinery capacity utilisation stood at 99 per cent, amounting to 12.93 million tonnes. The company exported products worth Rs 800 crore (Rs 8 billion) in the reporting year.
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