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Unaudited Financial Results for the Quarter ended 30th June 2011
(Rs./ Lakh)| S.No. | Particulars | Quarter ended 30.06.2011 (Unaudited) | Quarter ended 30.06.2010 (Unaudited) | Year ended 31.03.2011 (Audited) |
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 |
| 1 | (a) Net Sales (Net of Electricity Duty) | 1417149 | 1294449 | 5487400 |
| (b) Other Operating Income | 35274 | 6177 | 35362 | |
| (c) Depreciation Written back (net) & Advance Against Depreciation recognised as Prior Period Sales | - | - | 184054 | |
| Total (a+b+c) | 1452423 | 1300626 | 5706816 | |
| 2 | Expenditure | |||
| (a) Fuel Cost | 974982 | 870231 | 3537378 | |
| (b) Employees Cost | 69072 | 68382 | 278971 | |
| (c) Depreciation | 64113 | 68272 | 248569 | |
| (d) Other Expenditure | 86471 | 75263 | 357357 | |
| (e) Provisions | 1 | 11 | 155215 | |
| Total (a+b+c+d+e) | 1194639 | 1082159 | 4577490 | |
| 3 | Profit from Operations before Other Income, Interest & Exceptional Items (1-2) | 257784 | 218467 | 1129326 |
| 4 | Other Income | 64366 | 51005 | 217968 |
| 5 | Profit before Interest & Exceptional Items (3+4) | 322150 | 269472 | 1347294 |
| 6 | Interest & Finance Charges | 37435 | 34153 | 142334 |
| 7 | Profit after Interest but before Exceptional Items (5-6) | 284715 | 235319 | 1204960 |
| 8 | Exceptional items | - | - | - |
| 9 | Profit (+) /Loss (-) from Ordinary Activities before Tax (7+8) | 284715 | 235319 | 1204960 |
| 10 | Tax Expenses: |
| ||
| (a) Current Tax | 81321 | 42117 | 255332 | |
| (b) Deferred Tax | (4184) | (9013) | (39369) | |
| Total Tax Expenses | 77137 | 51130 | 294701 | |
| 11 | Net Profit (+)/ Loss (-) from Ordinary Activities after Tax (9-10) | 207578 | 184189 | 910259 |
| 12 | Extraordinary Items (Net of tax expenses) | - | - | - |
| 13 | Net Profit (+)/ Loss (-) for the period (11-12) | 207578 | 184189 | 910259 |
| 14 | Paid-up Equity Share Capital (Face value of share Rs.10/- each) | 824546 | 824546 | 824546 |
| 15 | Reserves excluding Revaluation Reserve as per Balance Sheet of 31st March 2011 | 5964679 | ||
| 16 | Earning per share - (EPS in Rs.) | |||
| (a) Basic and diluted EPS before Extraordinary items (not annualised) | 2.52 | 2.23 | 11.04 | |
| (b) Basic and diluted EPS after Extraordinary items (not annualised) | 2.52 | 2.23 | 11.04 | |
| 17 | Public Shareholding | |||
| (a) Number of shares | 1278103220 | 1278103220 | 1278103220 | |
| (b) %age of shareholding | 15.50 | 15.50 | 15.50 | |
| 18 | Promoters and Promoter Group Shareholding | |||
| (a) Pledged/Encumbered | ||||
| - Number of Shares | - | - | - | |
| - Percentage of share (as % of the total shareholding of promoter and promoter group) | - | - | - | |
| - Percentage of share (as % of the total share capital of the company) | - | - | - | |
| (b) Non-encumbered | ||||
| - Number of Shares | 6967361180 | 6967361180 | 6967361180 | |
| - Percentage of share (as % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | |
| - Percentage of share (as % of the total share capital of the company) | 84.50 | 84.50 | 84.50 |
REPORTING OF SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30th JUNE 2011
(Rs./ Lakh)| S.No. | Particulars | Quarter ended 30.06.2011 (Unaudited) | Quarter ended 30.06.2010 (Unaudited) | Year ended 31.03.2011 (Audited) |
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 |
| 1 | Segment Revenue (Net Sales) | |||
| - Generation | 1413726 | 1290495 | 5470455 | |
| - Others | 3423 | 3954 | 16945 | |
| - Total | 1417149 | 1294449 | 5487400 | |
| 2 | Segment Results (Profit before Tax and Interest) | |||
| - Generation | 276359 | 238827 | 1208578 | |
| - Others | 1165 | 1533 | 5014 | |
| - Total | 277524 | 240360 | 1213592 | |
| Less: | ||||
| (i) Unallocated Interest and Finance Charges | 37435 | 34153 | 142334 | |
| (ii) Other Unallocable expenditure net of unallocable income | (44626) | (29112) | (133702) | |
| Total Profit before Tax | 284715 | 235319 | 1204960 | |
| 3 | Capital Employed (Segment Assets - Segment Liabilities) | |||
| - Generation | 4779095 | 3902678 | 4526023 | |
| - Others | 5906 | 3381 | 425 | |
| - Un-allocated | 2211802 | 2521872 | 2262777 | |
| - Total | 6996803 | 6427931 | 6789225 |
The operations of the company are mainly carried out within the country and therefore, geographical segments are not applicable.
Notes:
1. (a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009 (Regulations, 2009) in January 2009, containing inter-alia the terms and conditions for determination of tariff applicable for a period of five years with effect from 1st April 2009 and also notified First and Second Amendment in May and June 2011. Pending determination of station-wise tariff by the CERC, sales have been provisionally recognized at Rs. 1,281,933 lakh during the quarter ended 30th June 2011 (corresponding previous quarter Rs. 1,193,111 lakh) on the basis of principles enunciated in the said Regulations, 2009 including the Amendments thereto.
Regulations, 2009 provide that pending determination of tariff by the CERC, the Company has to provisionally bill the beneficiaries at the tariff applicable as on 31st March 2009 approved by the CERC. The amount provisionally billed for the quarter ended 30th June 2011 on this basis is Rs. 1,228,425 lakh (corresponding previous quarter Rs. 1,157,761 lakh).
In terms of the First Amendment, the CERC has issued provisional tariff orders dated 6th July 2011 in respect of some of the stations of the Company and the estimated revised billing as per these orders for the period from 1st April 2009 to 30th June 2011 amounting to Rs. 29,172 lakh would be carried out in the month of August 2011.
(b) For the units commissioned subsequent to 1st April 2009, pending the determination of tariff by CERC, sales of Rs. 154,954 lakh during the quarter ended 30th June 2011 (corresponding previous quarter Rs. 87,061 lakh) have been provisionally recognised on the basis of principles enunciated in the Regulations, 2009. The amount provisionally billed for such units is Rs. 158,069 lakh (corresponding previous quarter Rs. 88,763 lakh).
(c) Sales include (-) Rs. 24,054 lakh for the quarter ended 30th June 2011 (corresponding previous quarter Rs. 3,927 lakh) pertaining to previous years recognized based on Regulations, 2009 and the orders issued by the CERC/Appellate Tribunal for Electricity.
Sales referred above include (-)Rs. 27,982 lakh accounted consequent to the Second Amendment to the Regulations, 2009. Corresponding provision of Rs. 26,359 lakh towards tariff adjustment made in the previous year has been written back and included in 'Other Operating Income.'
(d) Sales include Rs. 893 lakh (corresponding previous quarter Rs. 6,396 lakh) on account of deferred tax recoverable from customers as per Regulations, 2009.
2. Interest and finance charges include exchange differences regarded as adjustment to interest costs for the quarter ended 30th June 2011 Rs. 3,636 lakh (corresponding previous quarter Rs. 4,612 lakh).
3. Other expenditure include exchange differences arising from settlement/translation of foreign currency monetary items denominated in foreign currency (other than long term) for the quarter ended 30th June 2011 Rs. 367 lakh (corresponding previous quarter (-)Rs. 1,159 lakh).
4. Information on investors complaints pursuant to clause 41 of Listing Agreements for the quarter ended 30th June 2011:
| Sl.No. | Opening Balance | Additions | Disposals | Closing Balance |
|---|---|---|---|---|
| No. of complaints | 12 | 1827 | 1832 | 7 |
5. The above results have been reviewed by the Audit Committee of the Board of Directors in their meeting held on 25th July 2011 and approved by the Board of Directors in the meeting held on the same day.
6. The above results have been reviewed by the Statutory Auditors as required under Clause 41 of the Listing Agreements.
7. Figures for the previous periods have been regrouped/rearranged wherever necessary.
For and on behalf of the Board of Directors
Place: New Delhi
Date: 25th July 2011
Sd/-
(A. K. SINGHAL)
DIRECTOR (FINANCE)