निवेशक

PART I : Statement of Standalone Unaudited Financial Results for the Quarter and Nine-Months ended 31^st December 2012

(/Lakh)

Sl. No.	Particulars	Quarter ended 31.12.2012 (Unaudited)	Quarter ended 30.09.2012 (Unaudited)	Quarter ended 31.12.2011 (Unaudited)	Nine-Months ended 31.12.2012 (Unaudited)	Nine-Months ended 31.12.2011 (Unaudited)	Year ended 31.03.2012 (Audited)
1	2	3	4	5	6	7	8
1	Income from operations
	(a) Net sales (net of electricity duty)	1577491	1611967	1533230	4785454	4488133	6114489
	(b) Other operating income	3265	23166	21006	47030	80939	90734
	Total income from operations (net) (a+b)	1580756	1635133	1554236	4832484	4569072	6205223
2	Expenses
	(a) Fuel cost	1009818	993266	1079329	3062856	3119251	4163546
	(b) Employee benefits expense	69164	89645	71882	237876	219415	309048
	(c) Depreciation and amortisation expense	82876	78652	75603	237550	205544	279170
	(d) Other expenses	98987	106629	96439	299716	246367	327521
	Total expenses (a+b+c+d)	1260845	1268192	1323253	3837998	3790577	5079285
3	Profit from operations before other income, finance costs and exceptional items (1-2)	319911	366941	230983	994486	778495	1125938
4	Other income	72199	81655	70205	221748	210845	277842
5	Profit from ordinary activities before finance costs and exceptional items (3+4)	392110	448596	301188	1216234	989340	1403780
6	Finance cost	53038	30346	44905	133319	122464	171164
7	Profit from ordinary activities after finance costs but before exceptional items (5-6)	339072	418250	256283	1082915	866876	1232616
8	Exceptional items	-	-	-	-	-	-
9	Profit from ordinary activities before tax (7-8)	339072	418250	256283	1082915	866876	1232616
10	Tax expense:
	(a) Current tax	72520	101127	32882	241879	213615	306848
	(b) Deferred tax	6876	2888	10362	17258	(9768)	3395
	Total tax expense (a+b)	79396	104015	43244	259137	203847	310243
11	Net profit from ordinary activities after tax (9-10)	259676	314235	213039	823778	663029	922373
12	Extraordinary items (net of tax expense)	-	-	-	-	-	-
13	Net profit for the period (11-12)	259676	314235	213039	823778	663029	922373
14	Paid-up equity share capital (Face value of share 10/- each)	824546	824546	824546	824546	824546	824546
15	Reserves excluding revaluation reserve as per balance sheet						6504571
16(i)	Earning per share (before extraordinary items) (of 10/- each) (not annualised) (in ):
	(a) Basic	3.15	3.81	2.58	9.99	8.04	11.19
	(b) Diluted	3.15	3.81	2.58	9.99	8.04	11.19
16(ii)	Earning per share (after extraordinary items) (of 10/- each) (not annualised) (in ):
	(a) Basic	3.15	3.81	2.58	9.99	8.04	11.19
	(b) Diluted	3.15	3.81	2.58	9.99	8.04	11.19

See accompanying notes to the financial results.

PART II : Select Information for the Quarter and Nine-Months ended 31^st December 2012

Segment-wise Revenue, Results and Capital Employed for the Quarter and Nine-Months ended 31^st December 2012

(/Lakh)

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

1. The above results have been reviewed by the Audit Committee of the Board of Directors and approved by the Board of Directors in their meetings held on 21^st January 2013.

2. (a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009 in January 2009, and also notified First, Second and Third Amendments 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. 1^st April 2009 for all the stations except for 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 and nine-months ended 31^st December 2012 respectively on this basis is 15,77,912 lakh and 46,52,105 lakh (corresponding previous quarter and nine-months 15,67,591 lakh and 44,32,967 lakh).

(b) In respect of stations for which the CERC has issued final tariff orders under the Regulations, 2009, sales have been recognised at 13,59,635 lakh and 40,58,654 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months 14,41,000 lakh and 40,87,860 lakh) by 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 2,10,952 lakh and 5,74,572 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months 1,44,176 lakh and 3,85,870 lakh) by truing up capital expenditure to arrive at the capacity charges on the basis of principles enunciated in the said Regulations, 2009.

(c) (i) Sales include 2,992 lakh and 1,16,352 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months (-) 15,547 lakh and 36,334 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity.

(ii) Sales include Nil lakh and 23,332 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months (-) 40,724 lakh and (-) 35,723 lakh) on account of income tax recoverable from the beneficaries as per Regulations, 2004. Sales also include 1,189 lakh and 3,568 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months 893 lakh and 2,680 lakh) on account of deferred tax materialized which is recoverable from beneficiaries as per Regulations, 2009.

3. Ministry of Corporate Affairs, Government of India through Circular no. 25/2012 dated 9^th August 2012 has clarified that para 6 of Accounting Standard (AS) 11 and para 4 (e) of AS 16 shall not apply to a Company which is applying para 46-A of AS 11. Consequently, exchange differences arising on settlement/translation of foreign currency loans to the extent regarded as an adjustment to interest costs as per para 4 (e) of AS 16 and charged to statement of Profit and Loss have now been adjusted in the cost of related assets. As a result, profit for the nine-months ended 31^st December 2012 is higher by 2,543 lakh, fixed assets are higher by 24,011 lakh and Deferred Income from Foreign Currency Fluctuation is higher by 21,468 lakh.

4. During the quarter ended 31^st December 2012, one unit of 500 MW at Rihand Project of the Company has been declared commercial w.e.f 19^th November 2012.

5. The Company has been making payment towards supply of coal considering the GCV based pricing w.e.f. 1^st January 2012. Accordingly, the amount payable/recoverable to/from the Coal Companies based on GCV based pricing of coal has been accounted with corresponding billing to the beneficiaries. This does not have significant impact on the profit of the Company.

6. Current tax expense includes (-) 45 lakh and (-) 4,668 lakh for the quarter and nine-months ended 31^st December 2012 respectively (corresponding previous quarter and nine-months (-) 31,434 lakh and 15,741 lakh) related to earlier years.

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

8. 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: 21^st January 2013

(A. K. SINGHAL)
DIRECTOR (FINANCE)