निवेशक
« Back Q3 Financial Results 2014-2015
PART I : Statement of Standalone Unaudited Financial Results for the Quarter and Nine-Months ended 31st December 2014
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Sl. No. | Particulars | Quarter ended 31.12.2014 (Unaudited) | Quarter ended 30.09.2014 (Unaudited) | Quarter ended 31.12.2013 (Unaudited) | Nine-Months ended 31.12.2014 (Unaudited) | Nine-Months ended 31.12.2013 (Unaudited) | Year ended 31.03.2014 (Audited) | |
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1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
1 | Income from operations | |||||||
(a) | Net sales (net of electricity duty) | 1873898 | 1658236 | 1877939 | 5340781 | 5066455 | 7160263 | |
(b) | Other operating income | 11911 | 15427 | 5774 | 52366 | 31555 | 41630 | |
Total income from operations (net) | 1885809 | 1673663 | 1883713 | 5393147 | 5098010 | 7201893 | ||
2 | Expenses | |||||||
(a) | Fuel cost | 1211963 | 1143933 | 1183052 | 3632409 | 3139560 | 4582971 | |
(b) | Employee benefits expense | 90136 | 91801 | 118258 | 273778 | 294322 | 382478 | |
(c) | Depreciation and amortisation expense | 125341 | 115158 | 102428 | 352046 | 293455 | 414219 | |
(d) | Other expenses (refer note 3) | 117738 | 113696 | 117115 | 343309 | 338917 | 455669 | |
Total expenses | 1545178 | 1464588 | 1520853 | 4601542 | 4066254 | 5835337 | ||
3 | Profit from operations before other income, finance costs and exceptional items (1-2) | 340631 | 209075 | 362860 | 791605 | 1031756 | 1366556 | |
4 | Other income | 48128 | 53069 | 75188 | 154453 | 205973 | 264568 | |
5 | Profit from ordinary activities before finance costs and exceptional items (3+4) | 388759 | 262144 | 438048 | 946058 | 1237729 | 1631124 | |
6 | Finance costs | 70081 | 66741 | 60103 | 203613 | 183890 | 240659 | |
7 | Profit from ordinary activities after finance costs but before exceptional items (5-6) | 318678 | 195403 | 377945 | 742445 | 1053839 | 1390465 | |
8 | Exceptional items | - | - | - | - | - | - | |
9 | Profit from ordinary activities before tax (7+8) | 318678 | 195403 | 377945 | 742445 | 1053839 | 1390465 | |
10 | Tax expense: | |||||||
(a) | Current tax (refer note 4) | 11275 | (2188) | 85375 | 7759 | 246065 | 279360 | |
(b) | Deferred tax | 6568 | 9446 | 6442 | 25586 | 19654 | 13631 | |
(c) | Less: Deferred tax recoverable (refer note 5) | 6565 | 19018 | - | 25583 | - | - | |
Total tax expense (a+b-c) | 11278 | (11760) | 91817 | 7762 | 265719 | 292991 | ||
11 | Net profit from ordinary activities after tax (9-10) | 307400 | 207163 | 286128 | 734683 | 788120 | 1097474 | |
12 | Extraordinary items (net of tax expense) | - | - | - | - | - | - | |
13 | Net profit for the period (11-12) | 307400 | 207163 | 286128 | 734683 | 788120 | 1097474 | |
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 | 7756986 | ||||||
16(i) | Earnings per share (before extraordinary items) - (of ![]() ![]() | |||||||
(a) | Basic | 3.73 | 2.51 | 3.47 | 8.91 | 9.56 | 13.31 | |
(b) | Diluted | 3.73 | 2.51 | 3.47 | 8.91 | 9.56 | 13.31 | |
16(ii) | Earnings per share (after extraordinary items) - (of ![]() ![]() | |||||||
(a) | Basic | 3.73 | 2.51 | 3.47 | 8.91 | 9.56 | 13.31 | |
(b) | Diluted | 3.73 | 2.51 | 3.47 | 8.91 | 9.56 | 13.31 |
PART II : Select Information for the Quarter and Nine-Months ended 31st December 2014
Sl. No. | Particulars | Quarter ended 31.12.2014 (Unaudited) | Quarter ended 30.09.2014 (Unaudited) | Quarter ended 31.12.2013 (Unaudited) | Nine-Months ended 31.12.2014 (Unaudited) | Nine-Months ended 31.12.2013 (Unaudited) | Year ended 31.03.2014 (Audited) | |
---|---|---|---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
A | PARTICULARS OF SHAREHOLDING | |||||||
1 | Public shareholding | |||||||
- Number of shares | 2064849420 | 2064849420 | 2061366100 | 2064849420 | 2061366100 | 2061366100 | ||
- Percentage of shareholding | 25.04 | 25.04 | 25.00 | 25.04 | 25.00 | 25.00 | ||
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 | 6180614980 | 6180614980 | 6184098300 | 6180614980 | 6184098300 | 6184098300 | ||
- 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) | 74.96 | 74.96 | 75.00 | 74.96 | 75.00 | 75.00 |
Particulars | Quarter ended | |
---|---|---|
B | INVESTOR COMPLAINTS | |
Pending at the beginning of the quarter | 1 | |
Received during the quarter | 1156 | |
Disposed of during the quarter | 1156 | |
Remaining unresolved at the end of the quarter | 1 |
Segment-wise Revenue, Results and Capital Employed for the Quarter and Nine-Months ended 31st December 2014

Sl. No. | Particulars | Quarter ended 31.12.2014 (Unaudited) | Quarter ended 30.09.2014 (Unaudited) | Quarter ended 31.12.2013 (Unaudited) | Nine-Months ended 31.12.2014 (Unaudited) | Nine-Months ended 31.12.2013 (Unaudited) | Year ended 31.03.2014 (Audited) |
---|---|---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
1 | Segment revenue | ||||||
- Generation | 1888501 | 1678287 | 1891548 | 5402885 | 5114625 | 7224026 | |
- Others | 3018 | 2286 | 3591 | 8003 | 8731 | 11507 | |
Total | 1891519 | 1680573 | 1895139 | 5410888 | 5123356 | 7235533 | |
2 | Segment results (Profit before tax and interest) | ||||||
- Generation | 368468 | 242405 | 402021 | 880411 | 1128607 | 1497480 | |
- Others | (1299) | 367 | 1021 | (1049) | 816 | 1623 | |
Total | 367169 | 242772 | 403042 | 879362 | 1129423 | 1499103 | |
Less : | |||||||
(i) Unallocated finance costs | 70081 | 66741 | 60103 | 203613 | 183890 | 240659 | |
(ii) Other unallocable expenditure net of unallocable income | (21590) | (19372) | (35006) | (66696) | (108306) | (132021) | |
Profit before tax | 318678 | 195403 | 377945 | 742445 | 1053839 | 1390465 | |
3 | Capital employed (Segment assets - Segment liabilities) | ||||||
- Generation | 8582122 | 7861889 | 7216218 | 8582122 | 7216218 | 8194117 | |
- Others | 49924 | 47072 | 18589 | 49924 | 18589 | 39387 | |
- Un-allocated | 683619 | 1099305 | 1592063 | 683619 | 1592063 | 348028 | |
Total | 9315665 | 9008266 | 8826870 | 9315665 | 8826870 | 8581532 |
Notes:
1. These results have been reviewed by the Audit Committee of the Board of Directors and approved by the Board of Directors in their respective meetings held on 30th January 2015.
2. (a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2014 in February 2014 (Regulations, 2014). Pending issue of provisional/final tariff orders w.e.f. 1st April 2014 for all the stations, beneficiaries are billed in accordance with the tariff approved and applicable as on 31st March 2014 as provided in the Regulations 2014. The amount provisionally billed for the quarter and nine-months ended 31st December 2014 is 18,89,572 lakh and
54,87,611 lakh respectively (corresponding previous quarter and nine-months
17,87,233 lakh and
49,22,890 lakh).
(b) The Company has filed a petition before the Hon'ble High Court of Delhi contesting certain provisions of the Regulations, 2014. Pending issue of provisional/final tariff orders under Regulations, 2014 by the CERC and disposal of the petition, sales have been provisionally recognised at 18,56,997 lakh for the quarter and
54,20,032 lakh for the nine-months ended 31st December 2014 (corresponding previous quarter and nine-months
17,89,173 lakh and
49,28,495 lakh) on the basis of said Regulations.
(c) Sales include 12,082 lakh for the quarter and
44,099 lakh for the nine-months ended 31st December 2014 (corresponding previous quarter and nine-months
63,955 lakh and
95,780 lakh) pertaining to previous years recognized based on the orders issued by the CERC/Appellate Tribunal for Electricity. Sales also include (-)
1,019 lakh for the quarter and (-)
1,39,942 lakh for the nine-months ended 31st December 2014 (corresponding previous quarter and nine-months
19,855 and
27,965 lakh) on account of income tax refundable to/recoverable from the beneficiaries as per Regulations, 2004. Sales also include
2,952 lakh for the quarter and
8,856 lakh for the nine-months ended 31st December 2014 (corresponding previous quarter and nine-months
1,892 lakh and
5,676 lakh) on account of deferred tax materialized which is recoverable from beneficiaries as per Regulations, 2014.
3. In line with the accounting policy on advance against depreciation, excess of depreciation charged in the books over the depreciation recovered in tariff, amounting to 20,832 lakh upto 31st March 2014 has been recognised as prior period sales and netted from 'Other expenses'.
4. Provision for current tax for the quarter and nine-months includes tax related to earlier years amounting to (-) 66,360 lakh and (-)
1,95,253 lakh respectively (corresponding previous quarter and nine-months
19,879 lakh).
5. Regulations, 2014 provides recovery of income tax from the beneficiaries by grossing up of the return on equity based on effective tax rate for the financial year i.e. based on the actual tax paid during the year on the generation income. Accordingly, deferred tax provided during the quarter and nine-months ended 31st December 2014 on the generation income is accounted as 'Deferred tax recoverable' as the same will be recovered from the beneficiaries in future years.
6. Government of India has promulgated Coal Mines (Special Provisions) Ordinance, 2014 (Ordinance) on 21st October 2014 wherein five coal blocks allotted to the Company have been cancelled. As per Section 5 of the said Ordinance, the cancelled coal blocks may be allotted to a Government Company subject to fulfillment of certain conditions. The Nominated Authority of the Ministry of Coal, vide order dated 18th December 2014 has earmarked 36 coal blocks for ‘Allotment’ under Section 5(1) of Ordinance. The five coal blocks of the Company are appearing in this list. The Company expects the allotment of the cancelled coal blocks in its favour. Accordingly, the Company considers the expenditure incurred on these coal blocks as good.
7. The Company has revised the accounting policy for depreciation of certain assets in alignment with Schedule-II to the Companies Act, 2013 which has become applicable from 1st April 2014. Consequently, profit for the quarter and nine-months ended 31st December 2014 is lower by 319 lakh &
1,145 lakh respectively and fixed assets as at 31st December 2014 are lower by
1,692 lakh. Further, an amount of
547 lakh has been adjusted with the opening balance of the retained earnings where the remaining useful life of such assets is Nil as at 1st April 2014 in line with the provisions of Schedule-II to the Companies Act, 2013.
8.The Board of Directors has recommended interim dividend of 0.75 per equity share (face value
10/-each) for the financial year 2014-15 in their meeting held on 30th January 2015.
9. During the quarter, one thermal unit of 660 MW at Barh w.e.f. 15th November 2014 and solar PV power station of 15 MW at Singrauli w.e.f. 31st December 2014 have been declared commercial.
10. The above financial results have been reviewed by the Statutory Auditors as required under Clause 41 of the Listing Agreements.
11. 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 January, 2015
(K. BISWAL)
DIRECTOR (FINANCE)