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

(Rupee/Lakh)
Sl. No.ParticularsQuarter 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)
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1Income from operations      
 (a) Net sales (net of electricity duty)157749116119671533230478545444881336114489
 (b) Other operating income32652316621006470308093990734
 Total income from operations (net) (a+b)158075616351331554236483248445690726205223
2Expenses 
 (a) Fuel cost10098189932661079329306285631192514163546
 (b) Employee benefits expense691648964571882237876219415309048
 (c) Depreciation and amortisation expense828767865275603237550205544279170
 (d) Other expenses9898710662996439299716246367327521
 Total expenses (a+b+c+d)126084512681921323253383799837905775079285
3Profit from operations before other income, finance costs and exceptional items (1-2)3199113669412309839944867784951125938
4 Other income721998165570205221748210845277842
5Profit from ordinary activities before finance costs and exceptional items (3+4)39211044859630118812162349893401403780
6Finance cost530383034644905133319122464171164
7Profit from ordinary activities after finance costs but before exceptional items (5-6)33907241825025628310829158668761232616
8Exceptional items------
9Profit from ordinary activities before tax (7-8)33907241825025628310829158668761232616
10 Tax expense:
 (a) Current tax7252010112732882241879213615306848
 (b) Deferred tax687628881036217258(9768)3395
 Total tax expense (a+b)7939610401543244259137203847310243
11Net profit from ordinary activities after tax (9-10)259676314235213039823778663029922373
12Extraordinary items (net of tax expense)------
13Net profit for the period (11-12)259676314235213039823778663029922373
14Paid-up equity share capital (Face value of share Rupee10/- each)824546824546824546824546824546824546
15Reserves excluding revaluation reserve as per balance sheet     6504571
16(i) Earning per share (before extraordinary items)
(of Rupee 10/- each) (not annualised) (in Rupee):

 
      
 (a) Basic3.153.812.589.998.0411.19
 (b) Diluted3.153.812.589.998.0411.19
16(ii) Earning per share (after extraordinary items)
(of Rupee 10/- each) (not annualised) (in Rupee):

 
      
 (a) Basic3.153.812.589.998.0411.19
 (b) Diluted3.153.812.589.998.0411.19

See accompanying notes to the financial results.

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

Sl. No.ParticularsQuarter 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)
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APARTICULARS OF SHAREHOLDING      
1Public shareholding      
 - Number of shares127810322012781032201278103220127810322012781032201278103220
 - % age of shareholding15.5015.5015.5015.5015.5015.50
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 shares696736118069673611806967361180696736118069673611806967361180
 - Percentage of shares (as a % of the total
shareholding of promoter and promoter group)
100.00100.00100.00100.00100.00100.00
 - Percentage of shares (as a % of the total
share capital of the company)
84.5084.5084.5084.5084.5084.50
Sl.No.ParticularsQuarter ended 31.12.2012
BINVESTOR COMPLAINTS 
 Pending at the beginning of the quarter1
 Received during the quarter1138
 Disposed of during the quarter1137
 Remaining unresolved at the end of the quarter2

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

(Rupee/Lakh)
Sl.
No.
ParticularsQuarter 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)
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1 Segment revenue      
 - Generation158390216372171557238484021745719736211551
 - Others24853370346288051139714605
 Total158638716405871560700484902245833706226156
2 Segment results (Profit before tax and interest)      
 - Generation34033740799326056810835268503241230036
 - Others(213)957(3231)401(772)(1946)
 Total34012440895025733710839278495521228090
 Less:      
 (i) Unallocated interest and finance charges530383034644905133319122464171164
 (ii) Other unallocable expenditure net of unallocable income(51986)(39646)(43851)(132307)(139788)(175690)
 Profit before tax33907241825025628310829158668761232616
3 Capital employed (Segment assets - Segment liabilities)      
 - Generation609450358903775697925609450356979255640727
 - Others374543104241374542415299
 - Un-allocated205464519985301750095205464517500951683091
 Total815289378932177452261815289374522617329117

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 Rupee 15,77,912 lakh and Rupee 46,52,105 lakh (corresponding previous quarter and nine-months Rupee 15,67,591 lakh and Rupee 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 Rupee 13,59,635 lakh and Rupee 40,58,654 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee 14,41,000 lakh and Rupee 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 Rupee 2,10,952 lakh and Rupee 5,74,572 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee 1,44,176 lakh and Rupee 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 Rupee 2,992 lakh and Rupee 1,16,352 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee (-) 15,547 lakh and Rupee 36,334 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity.

(ii) Sales include Rupee Nil lakh and Rupee 23,332 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee (-) 40,724 lakh and Rupee (-) 35,723 lakh) on account of income tax recoverable from the beneficaries as per Regulations, 2004. Sales also include Rupee 1,189 lakh and Rupee 3,568 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee 893 lakh and Rupee 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 Rupee 2,543 lakh, fixed assets are higher by Rupee 24,011 lakh and Deferred Income from Foreign Currency Fluctuation is higher by Rupee 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 Rupee (-) 45 lakh and Rupee (-) 4,668 lakh for the quarter and nine-months ended 31st December 2012 respectively (corresponding previous quarter and nine-months Rupee (-) 31,434 lakh and Rupee 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)