Annual Report 2008-2009 - Bharat Petroleum

SCHEDULE ‘X’ – (CONSOLIDATED) (CONTD.)
14. In compliance with Accounting Standard - 17, “Segment Reporting” issued by the Institute of Chartered
Accountants of India, the segment information is as under:
I The group is engaged in the following business segments:
a) Downstream petroleum i.e. Refining and Marketing of Petroleum Products
b) Exploration and Production of Hydrocarbons
Segments have been identified taking into account the nature of activities and the nature of risks and returns.
II There are no geographical segments.
III Segment-wise details are as follows: (Rs. Crores)
Year ended 31st March 2009 Year ended 31st March 2008
Downstream E&P Total Downstream E&P Total
Petroleum
Petroleum
Revenue
External Revenue # 137,250.83 — 137,250.83 111,842.92 — 111,842.92
Inter Segment Revenue — — — — — —
Total Revenue 137,250.83 — 137,250.83 111,842.92 — 111,842.92
Result
Segment Results 3,306.57 (28.21) 3,278.36 3,355.21 (41.32) 3,313.89
Unallocated Corporate Expenses — — — — — —
Operating profit 3,306.57 (28.21) 3,278.36 3,355.21 (41.32) 3,313.89
Add:
Interest / Dividend Income 742.07 567.41
Profit on sale of Long term Investments — 156.07
Less:
Interest Expenditure 2,404.32 714.89
Loss on sale of Current Investments 515.42 108.06
Diminution in value of Investments (33.88) 194.37
Income Tax (including Deferred Tax) 410.44 1,107.52
Profit after Tax 724.13 1,912.53
Other Information
Segment Assets 35,795.54 1,014.73 36,810.27 33,362.27 151.75 33,514.03
Unallocated Corporate Assets 17,263.16 14,082.64
Total Assets 54,073.43 47,596.67
Segment Liabilities 12,238.14 36.92 12,275.06 14,813.83 20.18 14,834.01
Unallocated Corporate Liabilities 27,585.70 18,995.15
Total Liabilities 39,860.76 33,829.17
Capital Expenditure 4,556.28 437.87 4,994.15 3,301.25 121.54 3,422.79
Depreciation/ Amortisation 1,261.47 0.24 1,261.71 1,291.94 0.17 1,292.10
Non-cash expenses other than
1.37 2.01 3.38 0.06 0.51 0.57
depreciation
# Segment Revenue comprises of Turnover (net of excise duties), Subsidy received from the Government of India
and other income (excluding dividend, interest income and investment income).
15. Miscellaneous Expenditure (to the extent not written-off)
31/03/2008
Rs. Crores Rs. Crores
Pre-incorporation/Share Issue Expenses 2.02 2.52
Less: Written off during the year 2.02 0.50
– 2.02
Share of Interest in Joint Ventures 3.30 3.03
Total 3.30 5.05
16. As indicated in Significant Accounting Policies, certain accounting policies of JVCs towards Depreciation,
Inventory Valuation, Employee Benefits and Classification of Income/Expenses are not in line with that followed
144 Bharat Petroleum Corporation Limited