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

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 ![]() | 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 ![]() ![]() | ||||||
(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 ![]() ![]() | ||||||
(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 31st December 2012
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 |
A | PARTICULARS OF SHAREHOLDING | ||||||
1 | Public shareholding | ||||||
- Number of shares | 1278103220 | 1278103220 | 1278103220 | 1278103220 | 1278103220 | 1278103220 | |
- % age of shareholding | 15.50 | 15.50 | 15.50 | 15.50 | 15.50 | 15.50 | |
2 | Promoters 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 shares | 6967361180 | 6967361180 | 6967361180 | 6967361180 | 6967361180 | 6967361180 | |
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |
- Percentage of shares (as a % of the total share capital of the company) | 84.50 | 84.50 | 84.50 | 84.50 | 84.50 | 84.50 |
Sl.No. | Particulars | Quarter ended 31.12.2012 |
---|---|---|
B | INVESTOR COMPLAINTS | |
Pending at the beginning of the quarter | 1 | |
Received during the quarter | 1138 | |
Disposed of during the quarter | 1137 | |
Remaining unresolved at the end of the quarter | 2 |
Segment-wise Revenue, Results and Capital Employed for the Quarter and Nine-Months ended 31st December 2012

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 | Segment revenue | ||||||
- Generation | 1583902 | 1637217 | 1557238 | 4840217 | 4571973 | 6211551 | |
- Others | 2485 | 3370 | 3462 | 8805 | 11397 | 14605 | |
Total | 1586387 | 1640587 | 1560700 | 4849022 | 4583370 | 6226156 | |
2 | Segment results (Profit before tax and interest) | ||||||
- Generation | 340337 | 407993 | 260568 | 1083526 | 850324 | 1230036 | |
- Others | (213) | 957 | (3231) | 401 | (772) | (1946) | |
Total | 340124 | 408950 | 257337 | 1083927 | 849552 | 1228090 | |
Less: | |||||||
(i) Unallocated interest and finance charges | 53038 | 30346 | 44905 | 133319 | 122464 | 171164 | |
(ii) Other unallocable expenditure net of unallocable income | (51986) | (39646) | (43851) | (132307) | (139788) | (175690) | |
Profit before tax | 339072 | 418250 | 256283 | 1082915 | 866876 | 1232616 | |
3 | Capital employed (Segment assets - Segment liabilities) | ||||||
- Generation | 6094503 | 5890377 | 5697925 | 6094503 | 5697925 | 5640727 | |
- Others | 3745 | 4310 | 4241 | 3745 | 4241 | 5299 | |
- Un-allocated | 2054645 | 1998530 | 1750095 | 2054645 | 1750095 | 1683091 | |
Total | 8152893 | 7893217 | 7452261 | 8152893 | 7452261 | 7329117 |
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 and approved by the Board of Directors in their meetings held on 21st 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. 1st 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 31st 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 31st 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 31st 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 31st 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 31st 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 31st 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 9th 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 31st 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 31st December 2012, one unit of 500 MW at Rihand Project of the Company has been declared commercial w.e.f 19th November 2012.
5. The Company has been making payment towards supply of coal considering the GCV based pricing w.e.f. 1st 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 31st 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: 21st January 2013
(A. K. SINGHAL)
DIRECTOR (FINANCE)