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Unaudited Financial Results for the Quarter ended 30th June 2011

(Rs./ Lakh)
S.No. Particulars Quarter ended 30.06.2011 (Unaudited) Quarter ended 30.06.2010 (Unaudited) Year ended 31.03.2011 (Audited)
1 2 3 4 5
1 (a) Net Sales (Net of Electricity Duty) 1417149 1294449 5487400
  (b) Other Operating Income 35274 6177 35362
  (c) Depreciation Written back (net) & Advance Against Depreciation recognised as Prior Period Sales - - 184054
  Total (a+b+c) 1452423 1300626 5706816
2 Expenditure      
  (a) Fuel Cost 974982 870231 3537378
  (b) Employees Cost 69072 68382 278971
  (c) Depreciation 64113 68272 248569
  (d) Other Expenditure 86471 75263 357357
  (e) Provisions 1 11 155215
  Total (a+b+c+d+e) 1194639 1082159 4577490
3 Profit from Operations before Other Income, Interest & Exceptional Items (1-2) 257784 218467 1129326
4 Other Income 64366 51005 217968
5 Profit before Interest & Exceptional Items (3+4) 322150 269472 1347294
6 Interest & Finance Charges 37435 34153 142334
7 Profit after Interest but before Exceptional Items (5-6) 284715 235319 1204960
8 Exceptional items - - -
9 Profit (+) /Loss (-) from Ordinary Activities before Tax (7+8) 284715 235319 1204960
10 Tax Expenses:

 

   
  (a) Current Tax 81321 42117 255332
  (b) Deferred Tax (4184) (9013) (39369)
  Total Tax Expenses 77137 51130 294701
11 Net Profit (+)/ Loss (-) from Ordinary Activities after Tax (9-10) 207578 184189 910259
12 Extraordinary Items (Net of tax expenses) - - -
13 Net Profit (+)/ Loss (-) for the period (11-12) 207578 184189 910259
14 Paid-up Equity Share Capital 
(Face value of share Rs.10/- each)
824546 824546 824546
15 Reserves excluding Revaluation Reserve as per Balance Sheet of 31st March 2011     5964679
16 Earning per share - (EPS in Rs.)      
  (a) Basic and diluted EPS before Extraordinary items (not annualised) 2.52 2.23 11.04
  (b) Basic and diluted EPS after Extraordinary items (not annualised) 2.52 2.23 11.04
17 Public Shareholding      
  (a) Number of shares 1278103220 1278103220 1278103220
  (b) %age of shareholding 15.50 15.50 15.50
18 Promoters and Promoter Group Shareholding      
  (a) Pledged/Encumbered      
  - Number of Shares - - -
  - Percentage of share (as % of the total shareholding of promoter and promoter group) - - -
  - Percentage of share (as % of the total share capital of the company) - - -
  (b) Non-encumbered      
  - Number of Shares 6967361180 6967361180 6967361180
  - Percentage of share (as % of the total shareholding of promoter and promoter group) 100.00 100.00 100.00
  - Percentage of share (as % of the total share capital of the company) 84.50 84.50 84.50

REPORTING OF SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30th JUNE 2011

(Rs./ Lakh)
S.No. Particulars Quarter ended 30.06.2011 (Unaudited) Quarter ended 30.06.2010 (Unaudited) Year ended 31.03.2011 (Audited)
1 2 3 4 5
1 Segment Revenue (Net Sales)      
  - Generation 1413726 1290495 5470455
  - Others 3423 3954 16945
  - Total 1417149 1294449 5487400
2 Segment Results (Profit before Tax and Interest)      
  - Generation 276359 238827 1208578
  - Others 1165 1533 5014
  - Total 277524 240360 1213592
  Less:      
  (i) Unallocated Interest and Finance Charges 37435 34153 142334
  (ii) Other Unallocable expenditure net of unallocable income (44626) (29112) (133702)
  Total Profit before Tax 284715 235319 1204960
3 Capital Employed (Segment Assets - Segment Liabilities)      
  - Generation 4779095 3902678 4526023
  - Others 5906 3381 425
  - Un-allocated 2211802 2521872 2262777
  - Total 6996803 6427931 6789225

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

Notes:

1. (a) The Central Electricity Regulatory Commission (CERC) notified the Tariff Regulations, 2009 (Regulations, 2009) in January 2009, containing inter-alia the terms and conditions for determination of tariff applicable for a period of five years with effect from 1st April 2009 and also notified First and Second Amendment in May and June 2011. Pending determination of station-wise tariff by the CERC, sales have been provisionally recognized at Rs. 1,281,933 lakh during the quarter ended 30th June 2011 (corresponding previous quarter Rs. 1,193,111 lakh) on the basis of principles enunciated in the said Regulations, 2009 including the Amendments thereto.

Regulations, 2009 provide that pending determination of tariff by the CERC, the Company has to provisionally bill the beneficiaries at the tariff applicable as on 31st March 2009 approved by the CERC. The amount provisionally billed for the quarter ended 30th June 2011 on this basis is Rs. 1,228,425 lakh (corresponding previous quarter Rs. 1,157,761 lakh).

In terms of the First Amendment, the CERC has issued provisional tariff orders dated 6th July 2011 in respect of some of the stations of the Company and the estimated revised billing as per these orders for the period from 1st April 2009 to 30th June 2011 amounting to Rs. 29,172 lakh would be carried out in the month of August 2011.

(b) For the units commissioned subsequent to 1st April 2009, pending the determination of tariff by CERC, sales of Rs. 154,954 lakh during the quarter ended 30th June 2011 (corresponding previous quarter Rs. 87,061 lakh) have been provisionally recognised on the basis of principles enunciated in the Regulations, 2009. The amount provisionally billed for such units is Rs. 158,069 lakh (corresponding previous quarter Rs. 88,763 lakh).

(c) Sales include (-) Rs. 24,054 lakh for the quarter ended 30th June 2011 (corresponding previous quarter Rs. 3,927 lakh) pertaining to previous years recognized based on Regulations, 2009 and the orders issued by the CERC/Appellate Tribunal for Electricity.

Sales referred above include (-)Rs. 27,982 lakh accounted consequent to the Second Amendment to the Regulations, 2009. Corresponding provision of Rs. 26,359 lakh towards tariff adjustment made in the previous year has been written back and included in 'Other Operating Income.'

(d) Sales include Rs. 893 lakh (corresponding previous quarter Rs. 6,396 lakh) on account of deferred tax recoverable from customers as per Regulations, 2009.

2. Interest and finance charges include exchange differences regarded as adjustment to interest costs for the quarter ended 30th June 2011 Rs. 3,636 lakh (corresponding previous quarter Rs. 4,612 lakh).

3. Other expenditure include exchange differences arising from settlement/translation of foreign currency monetary items denominated in foreign currency (other than long term) for the quarter ended 30th June 2011 Rs. 367 lakh (corresponding previous quarter (-)Rs. 1,159 lakh).

4. Information on investors complaints pursuant to clause 41 of Listing Agreements for the quarter ended 30th June 2011:

Sl.No. Opening Balance Additions Disposals Closing Balance
No. of complaints 12 1827 1832 7

5. The above results have been reviewed by the Audit Committee of the Board of Directors in their meeting held on 25th July 2011 and approved by the Board of Directors in the meeting held on the same day.

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

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

For and on behalf of the Board of Directors

Place: New Delhi
Date: 25th July 2011

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