| Licencee:-SOUTHCO
LTD. |
ANNEX-C2 |
CALCULATION OF CLEAR PROFIT FOR THE FINANCIAL YEAR 2002-03 AS PER THE
SCHEDULE VI OF ELECTRICITY SUPPLY ACT, 1948 |
PARA - XVII (2) |
|
| |
|
|
|
|
Rs.
in crore |
| |
|
|
SOUTHCO's |
COMMISSION |
COMMISSION |
(A) |
|
Income
derived from : |
PROPOSAL |
APPROVAL |
APPROVAL |
| |
|
|
|
(With
corrective) |
(Without
corrective) |
| |
i) |
Gross
receipt from Sale of energy less discounts applicable thereto. |
256.17 |
310.57 |
310.57 |
| |
ii) |
Rental of meters
and other apparatus hired to consumers. |
3.55 |
3.55 |
3.55 |
| |
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) |
259.72 |
314.12 |
314.12 |
(B) |
|
Expenditure
properly incurred on : |
|
|
|
| |
i) |
Generation
& purchase of energy |
210.36 |
207.42 |
266.30 |
| |
ii) |
Distribution
and sale of energy |
|
|
|
| |
|
a)
Employees cost |
46.45 |
48.53 |
48.53 |
| |
|
b)
Material |
16.82 |
16.82 |
16.82 |
| |
|
c)
A&G expenses |
6.96 |
3.33 |
3.33 |
| |
iii) |
Rents,
rates & taxes, other than all taxed on income and profit |
0.43 |
Included
in A&G |
Included
in A&G |
| |
iv) |
Interest
on loan advanced by GRIDCO and others |
10.82 |
11.13 |
11.13 |
| |
iv.a) |
Interest
on loan borrowed from Organisation |
8.01 |
5.79 |
8.01 |
| |
iv.b) |
Interest
on debenture issued by licensee |
16.25 |
11.05 |
16.25 |
| |
v) |
Interest
on security deposit |
21.42 |
0.00 |
0 |
| |
vi) |
Legal
charges |
0.13 |
Included
in A&G |
Included
in A&G |
| |
vii) |
Bad
debts |
10.00 |
7.76 |
7.76 |
| |
viii) |
Auditors
fees |
0.05 |
Included
in A&G |
Included
in A&G |
| |
ix) |
Management
including managing agents remuneration |
|
|
|
| |
x) |
Depreciation |
26.35 |
12.74 |
12.74 |
| |
xi) |
Other
expenses |
0.09 |
Included
in A&G |
Included
in A&G |
| |
xii) |
Contribution
to P.F., staff pension and gratuity |
6.53 |
Included
in EMP cost |
Included
in EMP cost |
| |
|
|
1.32 |
Included
in EMP cost |
Included
in EMP cost |
| |
xii.a) |
Expenses
on apprentice & other training scheme |
0.06 |
Included
in A&G |
Included
in A&G |
| |
xiii) |
Bonus |
0.03 |
Included
in EMP cost |
Included
in EMP cost |
| |
Total expenditure i.e. total of (B) (i to xiii) |
382.10 |
324.58 |
390.88 |
(C) |
|
Special
appropriation to cover : |
|
|
|
| |
i) |
Previous
losses |
301.05 |
0 |
0 |
| |
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 |
1.26 |
1.26 |
1.26 |
| |
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) |
302.31 |
1.26 |
1.26 |
| |
|
CLEAR
PROFIT (A-B-C) |
(424.70) |
(11.72) |
(78.02) |
| |
|
Reasonable
Return (Form No. F.14) |
|
1.67 |
1.67 |
| |
|
Excess
of clear profit over reasonable return |
|
(13.39) |
(79.69) |