*Represents consumption of raw materials, stores & spares. ** Also includes depletion, amortisation and impairment loss ***Reserves excluding intangibles

Segment wise Revenue, Results and Capital Employed under Clause 41 of the Listing Agreement

Notes :

• In terms of the decision of the GOI, the company has shared under recoveries of Oil Marketing Companies (OMCs) for the 2nd quarter of 2006-07 by allowing discount in the prices of Crude Oil, PDS kerosene and domestic LPG based on the provisional rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC). The impact on this account is as under:-

  Decrease in	For the Quarter ended		For the Half Year ended		For the Year ended
  	30.09.2006	30.09.2005	30.09.2006	30.09.2005	31.03.2006
  Gross Discount	5032.00	2876.00	10152.00	5703.86	11956.49
  Decrease in Sales Revenue	4826.82	2876.00	9766.83	5703.86	11956.49
  Decrease in Profit before tax	4560.29	2634.36	9236.30	5216	10867.66

• Gross sales and purchases for the quarter include Rs. 1636.29 crore (previous quarter Rs. 1215.69 crore) and Rs. 1634.83 crore (previous quarter Rs. 1214.38 crore) respectively on account of trading of MRPL products, a subsidiary of ONGC. Similarly, gross sales and purchases for the half year include Rs. 3309.70 crore (previous half year Rs. 2152.02 crore) and Rs. 3307.01crore (previous half year 2150.02 crore) respectively.
• The Institute of Chartered Accountants of India (ICAI) has issued a revised AS-15 on Employee Benefits effective from 01.04.2006. Pending final determination of liability in terms of said AS, for certain post retirement & other benefit plans, an additional provision of Rs.17 crore and Rs. 27 crore has been made in the current quarter and half year respectively in this respect on an estimated basis.
• The statutory auditors in their report on the accounts for the year 2005-06 have commented on accounting treatment of side tracking cost in respect of abandoned portion of wells for which a reference was made to The Institute of Chartered Accountants of India (ICAI) by the company. Since the opinion was received on 31.05.2006, and the company has sought certain specific clarifications, no accounting adjustment has been made in the current quarter.
• In accordance with the ICAI Guidance note on VAT accounting, the sales turnover is net of VAT of Rs. 587.97 crore and Rs. 1222.90 crore during current quarter and half year respectively whereas sales turnover of corresponding periods of previous year are inclusive of VAT.
• The company in its Annual General Meeting held on 19th September, 2006 has approved issue of bonus shares in the ratio of 1:2, i.e. one share against two shares held. The record date for the issue has been fixed as 30th October, 2006.
• Hazira gas processing complex experienced unprecedented floods resulting in total plant shutdown from 07.08.2006 to 19.08.2006. The operations were fully restored on 08.09.2006. The estimated revenue loss on this account is Rs. 485.28 crore.
• Staff expenditure includes Rs. 305 crore on account of Golden Jubilee and additional annual incentive.
• Other expenditure includes an amount of Rs. 365 crore on account of liquidated damages payable to GOI for extension of License period/surrender of NELP blocks.
• Information on investors’ complaints pursuant to clause 41 of Listing Agreement for the quarter ended 30th September , 2006:

  	Opening Balance	Additions	Disposals	Closing Balance
  No. of complaints	7	17	24	Nil

  These exclude investor complaints regarding the offer for sale upto 10% of equity shares of the company made by the Government of India in March, 2004, which are being attended to by the Registrar to the issue appointed by Govt. of India.
• The above results have been reviewed and recommended by the Audit & Ethics Committee and approved by the Board of Directors in its meeting held on 19th October, 2006 The same are subject to limited review by the statutory auditors of the company.
• Previous period’s figures have been regrouped/reclassified wherever necessary.