IPCL net dips 25.89%

BS 200 SCORECARD

Mukesh Ambani-controlled Indian Petrochemicals Corporation (IPCL) has registered a fall of 25.89 per cent in net profit to Rs 249 crore for the quarter ended March 31, 2006 from Rs 336 crore in the corresponding period last year.

The revenue has also fallen to Rs 2,324 crore for Q4 FY 05-06 from Rs 2,682 crore in Q4 FY 04-05, a decrease of 13.35 per cent.

Explaining the rationale for the poor show, the company said: "The petrochemical business worldwide was affected by high crude oil and natural gas prices leading to increase in cost of raw materials and reduction in profitability margins. On the raw-material side, price of naphtha and propane was higher by 27 per cent and 14 per cent, respectively. Moreover, there was over 50 per cent increase in price of natural gas, the major feedstock for IPCL's Gandhar complex."

The company has posted an increase of 28 per cent in net profit to Rs 1,005 crore for the year ended March 31, 2006 as compared with Rs 786 crore registered in the previous year.

Revenue has increased to Rs 8,605 crore from Rs 8,331 crore. IPCL has posted a turnover of Rs 9,597 crore for the year ended 31 March, 2006 as against Rs 9,386 crore registered in the corresponding previous year, an increase of 2 per cent.

Operating profit (PBDIT) has risen 8 per cent to Rs 1,888 crore in the FY 2005-06 as against Rs 1,756 crore in the previous year. The total paid up equity share capital stood at Rs 249 crore. Earnings per share (EPS) for the year was Rs 40.50.

Contribution to the national exchequer in the form of various taxes stood at Rs 1,926 crore as against Rs 1,897 crore for the corresponding previous year.

Production increased by 4 per cent in FY 05-06 to 5.4 million tonne against 5.2 million tonne during the previous year. Exports of manufactured products were Rs 1,685 crore as against Rs 1,638 crore.