ACN & MEG output up at IPCL

26 Apr '06

3 min read

Leading integrated petrochemical player Indian Petrochemicals Corporation Limited (IPCL) has announced its unaudited results for the year ended 31st March 2006.

The performance highlights of IPCL for the year ended 31st March 2006 are:

- Turnover of Rs. 9,597 crore (US$ 2,151 million) against Rs. 9,386 crore for the corresponding previous year, an increase of 2 percent.

- Operating Profit (PBDIT) of Rs. 1,888 crore (US$ 423 million) as against Rs. 1,756 crore for the corresponding previous year, an increase of 8 percent.

- Net Profit of Rs. 1,005 crore (US$ 225 million) against Rs. 786 crore for the corresponding previous year, an increase of 28 percent.

- The total paid up equity share capital stood at Rs. 249 crore (US$ 56 million).

- Earnings per Share (EPS) for the year was Rs. 40.5 (US$ 0.9)

- Contribution to the national exchequer in the form of various taxes of Rs. 1,926 crore (US$ 432 million) as against Rs. 1,897 crore for the corresponding previous year.

- Production of 5.4 million tonnes against 5.2 million tonnes during corresponding previous year, an increase of 4 percent.

- Exports of manufactured products were Rs. 1,685 crore (US$ 378 million) as against Rs. 1,638 crore for the corresponding previous year, an increase of 3 percent.

Management Discussion & Analysis:
- Overall summary for the year ended 31st March 2006
During the year under review, operating rates of ethylene crackers continued to be high globally on account of sustained demand and lack of new capacities.

However 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 compared to previous year.

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