Licencee:-WESCO LTD.

Annex-C1

CALCULATION OF CLEAR PROFIT FOR THE FINANCIAL YEAR 2001-02 AS PER THE SCHEDULE VI OF ELECTRICITY SUPPLY ACT, 1948 PARA XVII (2)

 

Rs.Crores

(A)

 

Income derived from :

WESCO'S PROPOSAL

Commission approval (corrective)

Commission approval (without corrective)

 

i)

Gross receipt from Sale of energy less discounts applicable thereto.

649.82

549.15

549.15

 

ii)

Rental of meters and other apparatus hired to consumers.

3.28

3.28

3.28

 

iii)

Sale & repair lamps and apparatus

     
 

iv)

Rents

      
  

v)

Transfer fees

        
 

vi)

Interest on investment

     
 

vii)

Other general receipts accountable for income tax and arising from and ancillary or incidental to business of electricity supply.

     
 

Total of (A) (i to vii)

653.10

552.43

552.43

(B)

Expenditure properly incurred on :

     
 

i)

Generation & purchase of energy

415.40

424.32

424.32

 

ii)

Distribution and sale of energy

 

a) Employees cost

53.54

55.60

55.60

 

b) Material

18.43

13.62

13.62

 

c) A&G expenses

7.13

4.21

4.21

 

iii)

Rents, rates & taxes, other than all taxed on income and profit

0.44

Included inA&G

 

iv)

Interest on loan advanced by GRIDCO

15.42

15.69

15.69

 

iv.a)

Interest on loan borrowed from Organisation

7.28

4.40

6.28

 

DPS GRIDCO

21.73

0.00

 

iv.b)

Interest on WESCO POWER BOND

12.88

8.76

12.88

 

v)

Interest on security deposit

     
 

vi)

Legal charges

0.14

Included inA&G

 

vii)

Bad debts

29.38

13.73

13.73

 

viii)

Auditors fees

0.04

Included inA&G

  

ix)

Management including managing agents remuneration

      
 

x)

Depreciation

26.50

13.06

13.06

  

xi)

Other expenses

0.00

0.00

 
 

xii)

Contribution to P.F., staff pension and gratuity

8.75

Included in empcost

 

xii.a)

Expenses on apprentice & other training scheme

0.05

Included inA&G

 
 

xiii)

Bonus

     
 

Total expenditure i.e. total of (B) (i to xiii)

617.10

553.38

559.39

(C)

Special appropriation to cover :

     
  

i)

Previous losses (20% claimed)

33.73

0.00

  

ii)

All tax on income and profits

     
 

iii)

Instalments of written down amounts in respect of intangible asset and new capital issue expenses

 

iv)

Contribution to contingency reserve

1.28

1.28

1.28

 

v)

Contribution towards arrear depreciation

     
 

v.a)

Contribution to Development Reserve, referred to in para

     
 

v.b)

Debt redemption obligation

     
 

vi)

Other special appropriation permitted by the State Govt.

     
   

Total of (C) (i to vi)

35.01

1.28

1.28

   

CLEAR PROFIT (A-B-C)

0.99

(2.24)

(8.24)

   

Reasonable Return (Form No. F.14)

0.92

1.42

1.42

   

Excess or deficit of clear profit over reasonable return

0.07

(3.65)

(9.66)