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PART I : Statement of Standalone Unaudited Financial Results for the Quarter ended 30thJune 2013

(Rupee in Lakhs)
Sl. No.ParticularsQuarter ended
30.06.2013

(Unaudited)
Quarter ended 31.03.2013
(Unaudited)
Quarter ended 
30.06.2012 
(Unaudited)
Year ended 
31.03.2013
(Audited)
123456
1Income from operations    
 (a) Net sales (net of electricity duty)1561289164618415959966431638
 (b) Other operating income48968872520599135755
 Total income from operations (net)1566185173490916165956567393
2Expenses    
 (a) Fuel cost942583103896910597724101825
 (b) Employee benefits expense942509813679372336012
 (c) Depreciation and amortisation expense9423310212676022339676
 (d) Other expenses9792811843494100418150
 Total expenses1228994135766513092665195663
3Profit from operations before other income, finance costs and exceptional items (1-2)3371913772443073291371730
4Other income696938841068199310158
5Profit from ordinary activities before finance costs and exceptional items (3+4)4068844656543755281681888
6Finance costs617415911749935192436
7Profit from ordinary activities after finance costs but before exceptional items (5-6)3451434065373255931489452
8Exceptional items-168411-168411
9Profit from ordinary activities before tax (7+8)3451435749483255931657863
10Tax expenses:

 

   
 (a) Current tax8711512620568232368084
 (b) Deferred tax532610582749427840
 Total tax expense (a+b)9244113678775726395924
11Net profit from ordinary activities after tax (9-10)2527024381612498671261939
12Extraordinary items (net of tax expense)----
13Net profit for the period (11-12)2527024381612498671261939
14Paid-up equity share capital 
(Face value of share Rupee10/- each)
824546824546824546824546
15Reserves excluding revaluation reserve as per balance sheet   7214205
16(i)Earnings per share (before extraordinary items) - (of Rupee 10/- each)(not annualised) (in Rupee):    
 (a) Basic3.065.313.0315.30
 (b) Diluted3.065.313.0315.30
16(ii)Earnings per share (after extraordinary items) - (of Rupee 10/- each) (not annualised) (in Rupee):    
 (a) Basic3.065.313.0315.30
 (b) Diluted3.065.313.0315.30

See accompanying notes to the financial results

PART II : Select Information for the Quarter ended 30th June 2013

Sl.No.ParticularsQuarter ended
30.06.2013

(Unaudited)
Quarter ended 31.03.2013
(Unaudited)
Quarter ended 
30.06.2012 
(Unaudited)
Year ended 
31.03.2013
(Audited)
123456
APARTICULARS OF SHAREHOLDING    
1Public Shareholding    
 - Number of shares2061366100206136610012781032202061366100
 - Percentage of shareholding25.0025.0015.5025.00
2Promoters and promoter group shareholding    
 (a) Pledged/Encumbered    
 - Number of shares----
 - Percentage of shares (as a % of the total shareholding of promoter and promoter group)----
 - Percentage of shares (as a % of the total share capital of the company)----
 (b) Non-encumbered    
 - Number of shares6184098300618409830069673611806184098300
 - Percentage of shares (as a % of the total shareholding of promoter and promoter group)100.00100.00100.00100.00
 - Percentage of shares (as a % of the total share capital of the company)75.0075.0084.5075.00
Sl.No.ParticularsQuarter ended
30.06.2012
BINVESTOR COMPLAINTS 
 Pending at the beginning of the quarter1
 Received during the quarter1479
 Disposed of during the quarter1480
 Remaining unresolved at the end of the quarter-

Segment-wise Revenue, Results and Capital Employed for the Quarter ended 30th June 2013

(Rupee in Lakhs)
Sl.No.ParticularsQuarter ended
30.06.2013
(Unaudited)
Quarter ended
31.03.2013
(Unaudited)
Quarter ended
30.06.2012 
(Unaudited)
Year ended
31.03.2013
(Audited)
123456
1Segment revenue    
 - Generation1571139191352816190986753745
 - Others29164041295012846
 - Total1574055191756916220486766591
2Segment results (Profit before tax and interest)    
 - Generation3695665809793351961664505
 - Others731213(343)1614
 - Total3696395821923348531666119
 Less:    
 (i) Unallocated interest and finance charges617415911749935192436
 (ii) Other unallocable expenditure net of unallocable income(37245)(51873)(40675)(184180)
 Profit before tax3451435749483255931657863
3Capital employed (Segment assets - Segment liabilities)    
 - Generation7164159710041855055987100418
 - Others4244449644624496
 - Un-allocated11230509338372068923933837
 - Total8291453803875175789838038751

The operations of the company are mainly carried out within the country and therefore, geographical segments are not applicable.

Notes:

1. The above results have been reviewed by the Audit Committee of the Board of Directors in the meeting held on 29th July 2013 and approved by the Board of Directors in the meeting held on 30th July 2013.

2. (a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009 in January 2009, and First, Second and Third Amendments thereto in May 2011, June 2011 and December 2012 respectively (Regulations, 2009). In line with the Regulations, 2009, the CERC has issued provisional/final tariff orders w.e.f. 1stApril 2009 for all the stations except Talcher Thermal Power Station (TTPS). Beneficiaries are billed in accordance with the said provisional/final tariff orders except for TTPS where it is done on provisional basis. The amount billed for the quarter ended 30th June 2013 on this basis is Rupee 15,50,469 lakh (corresponding previous quarter Rupee 15,82,949 lakh).

(b) In respect of stations for which the CERC has issued final tariff orders under the Regulations, 2009, and Renewable Energy Regulations, 2009, sales have been recognised at Rupee 13,66,366 lakh for the quarter ended 30thJune 2013 (corresponding previous quarter Rupee 15,06,138 lakh) after truing up capital expenditure to arrive at the capacity charges. For other stations, pending determination of station-wise final tariff by the CERC, sales have been provisionally recognized at Rupee 1,62,005 lakh for the quarter ended 30th June 2013 (corresponding previous quarter Rupee80,651 lakh) on the basis of principles enunciated in the said Regulations, 2009 after truing up capital expenditure to arrive at the capacity charges.

(c) (i) Sales include Rupee 20,072 lakh for the quarter ended 30th June 2013 (corresponding previous quarter Rupee 10,988 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity (APTEL).

(ii) Sales include Rupee 8,110 lakh for the quarter ended 30th June 2013 (corresponding previous quarter (-) Rupee 5,881 lakh) on account of income tax recoverable from the beneficiaries as per Regulations, 2004. Sales also include Rupee1,892 lakh for the quarter ended 30th June 2013 (corresponding previous quarter Rupee 1,189 lakh) on account of deferred tax materialized which is recoverable from beneficiaries as per Regulations, 2009.

3. Vide gazette notification F no.22021/1/2008-CRC/II dated 30.12.2011 issued by Ministry of Coal, grading and pricing of non-coking coal was migrated from Useful Heat Value (UHV) to Gross Calorific Value (GCV) based system w.e.f. 1st January 2012. The Coal Supply Agreements entered into by the Company were required to be amended to incorporate acceptable procedures for sample collection, preparation, testing and analysis, to facilitate such migration, which are still pending. The Company's Board of Directors approved payments to the coal companies based on the GCV based pricing system, and directed to frame modalities for implementation of GCV based grading system. Accordingly, modalities were framed to effect joint sampling and testing of coal at mine end/station end and future payments to coal companies. The above modalities were communicated to the coal companies w.e.f. October/ November 2012, thereafter the Company released payments on the basis of GCV measured at station end following the implementation of the said modalities since variation in the GCV of coal supplied and received at power stations was noticed. The Company regularly informed coal companies about this variation which has not been accepted by them. The issue has been taken up with the coal companies directly and through the Ministry of Power and Ministry of Coal, GOI for resolution. Pending resolution of the issue, difference between the amount billed by the coal companies and the amount admitted by the company amounting to Rupee 3,52,318 lakh upto 30th June 2013 has been considered as contingent liability with corresponding possible reimbursements from the beneficiaries.

4. The above financial results have been reviewed by the Statutory Auditors as required under Clause 41 of the Listing Agreements.

5. Figures for the previous periods/year have been regrouped/rearranged wherever necessary.

For and on behalf of the Board of Directors

Place: New Delhi
Date: 30th July 2013

Sd/-
(A. K. SINGHAL)
DIRECTOR (FINANCE)