Licencee:-SOUTHCO 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 Crore

(A)

 

Income derived from :

SOUTHCO'S PROPOSAL

COMMISSION

COMMISSION

         

APPROVAL

APPROVAL

        

With correctives

Without correctives

 

i)

Gross receipt from Sale of energy less discounts applicable thereto.

348.20

260.90

260.90

 

ii)

Rental of meters and other apparatus hired to consumers.

2.55

2.55

2.55

 

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)

350.76

263.45

263.45

(B)

Expenditure properly incurred on :

     
  

i)

Generation & purchase of energy

204.62

200.91

200.91

 

ii)

Distribution and sale of energy

   
 

a) Employees cost

43.45

47.54

47.54

 

b) Material

15.57

15.57

15.57

 

c) A&G expenses

6.43

3.17

3.17

 

iii)

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

0.36

   
 

iv)

Interest on loan advanced by GRIDCO and others

14.52

14.52

14.52

 

iv.a)

Interest on loan borrowed from Organisation

6.39

3.91

5.63

 

iv.b)

Interest on debenture issued by licensee ( Power Bond)

16.25

11.05

16.25

 

v)

Interest on security deposit

14.57

0.00

 
 

vi)

Legal charges

0.11

   
 

vii)

Bad debts

10.52

6.52

6.52

  

viii)

Auditors fees

0.05

   
  

ix)

Management including managing agents remuneration

0.00

   
 

x)

Depreciation

22.45

10.85

10.85

 

xi)

Other expenses

0.09

   
     

0.00

   
 

xii)

Contribution to P.F., staff pension and gratuity

6.05

     

1.22

   
 

xii.a)

Expenses on apprentice & other training scheme

0.05

   
 

xiii)

Bonus

0.03

   
 

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

362.72

314.05

320.97

(C)

Special appropriation to cover :

     
 

i)

Previous losses

     
 

ii)

Gaps in Previous Retail Tariff Order

     
 

iii)

All tax on income and profits

     
  

iv)

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

       
 

v)

Contribution to contingency reserve

1.09

1.09

1.09

 

vi)

Contribution towards arrear depreciation

     
 

vii.a)

Contribution to Development Reserve, referred to in para

     
 

vii.b)

Debt redemption obligation

      
 

viii)

Other special appropriation permitted by the State Govt.

     
   

Total of (C) (i to vi)

1.09

1.09

1.09

   

CLEAR PROFIT (A-B-C)

(13.05)

(51.68)

(58.60)

   

Reasonable Return (Form No. F.14)

0

1.46

1.46

   

Excess or deficit of clear profit over reasonable return

(13.05)

(53.14)

(60.06)