It may be observed that the profit and loss account refers to the last year 2011-12, and not for current year. During last year, total revenue of the BPCL amounted to Rs.213,675 crore while profit after tax amounted to Rs.1313 crore i.e. only 0.61 percent of revenue, which is a very small amount. The dividend of Rs.11 announced per share of Rs.450 is also only 2.5%. However, during current year, as reported in the press, BPCL is incurring huge losses. Hope, this provides the clarifications, although I do not hold any brief for BPCL. I completely support the recent policies and the increases of petroleum product prices announced by the government. Open ended and untargeted subsidies on food, fertilizers and petroleum products are neither advisable nor desirable because these are unsustainable over time and ultimately lead to higher fiscal deficit, higher money supply, higher interest rates, higher inflation, high cost economy, lower investment, lower growth and hardships for all. So uncontrolled subsidies may be beneficial to the poor in the short run, but in the medium and long term they would put more hardships on everybody including the poor.
Dr. Tarun Das
Date: Mon, 24 Sep 2012 16:04:08 +0530lower
Subject: [MTC Global] Rise in Diesel prices!!!!!!!!!!!!
From: anishkannan@gmail.com
To: join_mtc@googlegroups.com
Hi,
Good Morning.
We are all aware and feeling the pinch on our purses because of hike in Diesel and Petrol prices regularly.
The reason projected for the hike is Oil Marketing Companies are making losses for every litre they sell.
Today BPCL has declared their AGM excerpts in The Hindu.
Can you clarify as to
1. If OMC are making losses for every litre they sell, then how come BPCL has made Rs.1311 crores profit,
2. BPCL has declared DIVIDEND of Rs.11 per share. Is Dividend declared on "Aam aadmi's" money?
Kindly clarify as to 'WHO IS RIDING or WHO IS TAKEN FOR A RIDE'.
Wish you a pretty nice, lively day.
Have a nice week ahead.
Anish.K
Mob - 088833 33102.
Coimbatore.
Dr. Tarun Das
Date: Mon, 24 Sep 2012 16:04:08 +0530lower
Subject: [MTC Global] Rise in Diesel prices!!!!!!!!!!!!
From: anishkannan@gmail.com
To: join_mtc@googlegroups.com
Hi,
Good Morning.
We are all aware and feeling the pinch on our purses because of hike in Diesel and Petrol prices regularly.
The reason projected for the hike is Oil Marketing Companies are making losses for every litre they sell.
Today BPCL has declared their AGM excerpts in The Hindu.
Can you clarify as to
1. If OMC are making losses for every litre they sell, then how come BPCL has made Rs.1311 crores profit,
2. BPCL has declared DIVIDEND of Rs.11 per share. Is Dividend declared on "Aam aadmi's" money?
Kindly clarify as to 'WHO IS RIDING or WHO IS TAKEN FOR A RIDE'.
Wish you a pretty nice, lively day.
Have a nice week ahead.
Anish.K
Mob - 088833 33102.
Coimbatore.
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