TORRENT POWER LIMITED |
Registered Office:Torrent House, Off Ashram Road, Ahmedabad - 380 009 |
UNAUDITED FINANCIAL RESULTS |
FOR THE QUARTER ENDED 31ST DECEMBER, 2006 |
|
|
Rs.in lacs |
Particulars |
Three Months ended 31.12.2006 |
18 Months ended 30.09.2006 |
| |
Unaudited |
Audited |
| Income |
|
|
| Net Sales/Income from Operations |
63333 |
378310 |
| Insurance Claim |
529 |
1731 |
| Other Income |
2478 |
13909 |
| Total Income |
66340 |
393950 |
| |
|
|
| Expenditure |
|
|
| a) Power Purchase |
31484 |
165712 |
| b) Fuel Cost |
13909 |
101862 |
| c) Staff Cost |
4374 |
27574 |
| d) Other Expenditure |
7748 |
42330 |
| e) Less: Allocated to Capital WIP,Repairs etc. |
2551 |
14954 |
| Total Expenditure (a to d)-(e) |
54964 |
322524 |
| Interest |
886 |
6309 |
| Depreciation |
5496 |
29894 |
| Less: Transfer from Service Line Contribution / APDRP grant |
203 |
807 |
| Profit before tax |
5197 |
36030 |
| Provision for Taxation |
|
|
| -Current Tax |
1080 |
15982 |
| -Deferred Tax Liability / (-) Assets |
1344 |
1641 |
| -Fringe Benefit Tax |
29 |
106 |
| Profit after tax |
2744 |
18301 |
| Short / (-) Excess provisions for taxation of earlier years |
0 |
374 |
| Net Profit |
2744 |
17927 |
| Equity Share Capital (F.V. Rs.10/-per Share) |
47245 |
47245 |
| Reserves excluding Revaluation Reserve |
|
215963 |
| Basic & Diluted EPS for the period on profit after Tax ( in Rs.) |
0.58 |
3.79 |
| Basic & Diluted EPS for the period on profit after Tax ( in Rs.) (Annualised) |
2.32 |
2.53 |
| Aggregate of Public Shareholding |
|
|
| Number of Shares (In Lacs) |
2141.82 |
2141.82 |
| Percentage of Shareholding |
45.33% |
45.33% |
| Notes: |
|
|
| 1 |
The Company operates only in one business segment viz. Generation and Distribution of Electricity. |
| 2 |
No comparative figures for the same quarter in the previous year are provided in the above statement as the Company did not have any operations during the said period. |
| 3 |
Subsequent to amalgamation of erstwhile Torrent Power AEC Ltd., Torrent Power SEC Ltd. and Torrent Power Generation Ltd. (collectively referred to as “Transferor Companies”) with the Company, the equity shares of the Company have been listed on the Bombay Stock Exchange and The National Stock Exchange effective from 28th November, 2006. |
| 4 |
The Company was selected by Maharashtra State Electricity Distribution Company Limited as Distribution Franchisee for its Bhiwandi distribution circle. The Company has taken over the business operations of the Bhiwandi distribution circle effective from 26th January 2007, pursuant to the signing of the Distribution Franchise Agreement on 20th December 2006. |
| 5 |
The Company is one of the promoters of Torrent Power Transmission Private Limited (TPTPL), a joint venture company with Powergrid Corporation of India Limited, which is to set up transmission lines from the Company’s 1147.5 MW SUGEN Project near Surat to Ahmedabad. During the quarter, TPTPL has further allotted 27,000 equity shares of Rs 10/- each to the Company, resulting in TPTPL becoming a subsidiary of the company. |
| 6 |
The Audit Committee has reviewed the above results and the same have been approved by the Board of Directors in their respective meetings held on 31st January, 2007. |
| 7 |
The Auditors of the Company have carried out a Limited Review of the Unaudited Financial Results for the quarter ended 31st December, 2006. |
| 8 |
There were no complaints from investors pending at the beginning of the quarter ended 31st December, 2006. 48 complaints received during the quarter under review have been resolved except 3 which were resolved after the quarter end. |
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| For TORRENT POWER LIMITED |
| |
| Place: Ahmedabad Sudhir Mehta |
| Date: 31st January, 2007 Chairman |
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