Licencee …Grid Corporation of Orissa
Limited....................................... |
Annex- 5 |
| CALCULATION OF CLEAR PROFIT FOR THE ENSUING
FINANCIAL YEAR FY 03 |
| AS PER THE SCHEDULE VI OF ELECTRICITY SUPPLY ACT,
1948 PARA - XVII (2) |
Rs. in crore |
| (A) |
|
Income derived from : |
GRIDCO Poposal 2002-03 |
2002-03 (With corrective) |
2002-03 (Without corrective) |
| |
i) |
Gross receipt from Sale of energy to DISTCOS |
1,654.22 |
1,473.58 |
1,861.28 |
| |
|
less: discounts applicable thereto |
|
|
|
| |
|
Net receipt from Sale of energy to DISTCOS |
1,654.22 |
1,473.58 |
1,861.28 |
| |
|
Gross receipt from direct Sale of energy to other than DISTCOS less
discounts applicable thereto. |
|
323.40 |
323.40 |
| |
ii) |
Rental of meters and other apparatus hired to customer |
- |
|
|
| |
iii) |
**** |
|
|
|
| |
iv) |
Rents less out goings otherwise provided for |
|
|
|
| |
v) |
Transfer fees |
|
|
|
| |
vi) |
Investment fixed & call deposits & bank balance |
|
|
|
| |
vii) |
Other general receipts accountable for income tax and arising from
and ancillary or incidental to business of electricity supply. |
|
24.60 |
27.90 |
Total of (A) (i to vii) |
1,674.14 |
1,821.58 |
2,212.58 |
| (B) |
|
Expenditure properly incurred on : |
|
|
|
| |
i) |
Cost of Purchase of Energy |
1,636.11 |
1,420.60 |
1,688.34 |
| |
ii) |
Transmission Cost (O/M) |
|
|
|
| |
a) |
Employees cost |
115.08 |
86.17 |
86.17 |
| |
b) |
Material |
28.73 |
17.43 |
17.43 |
| |
c) |
A&G expenses |
26.80 |
13.51 |
13.51 |
| |
d) |
Amortisation of approved investment for restoring damages due to
cyclone. |
|
|
4.42 |
| |
iii) |
Rents, rates & taxes, other than all taxed on income and profit |
|
|
|
| |
iv) |
Interest on loan advanced by Board |
284.07 |
135.60 |
258.85 |
| |
iv.a) |
Interest on loan borrowed from Organisation |
|
|
|
| |
iv.b) |
Interest on debenture issued by licensee |
|
|
|
| |
v) |
Interest on securitisation of new BOND |
54.25 |
54.25 |
54.25 |
| |
vi) |
Legal charges |
0.74 |
|
|
| |
vii) |
Bad debts |
3.00 |
|
|
| |
viii) |
Auditors fees |
0.11 |
|
|
| |
ix) |
Management including managing agents remuneration |
|
|
|
| |
x) |
Depreciation |
123.78 |
61.80 |
61.80 |
| |
xi) |
Other expenses (ERLDC) |
1.35 |
1.35 |
1.35 |
| |
xii) |
Contribution to P.F., staff pension and gratuity |
|
|
|
| |
xii.a) |
Expenses on apprentice & other training scheme |
|
|
|
| |
xiii) |
Bonus |
|
|
|
Total expenditure i.e. total of (B) (i to xiii) |
2,278.44 |
1,795.12 |
2,186.11 |
| (C) |
|
Special appropriation to cover : |
|
|
|
| |
i) |
Previous losses |
|
|
|
| |
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 |
9.92 |
9.92 |
9.92 |
| |
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) |
9.92 |
9.92 |
9.92 |
CLEAR PROFIT (A-B-C) |
(614.22) |
16.54 |
16.54 |
Reasonable Return |
118.86 |
16.54 |
16.54 |
Excess or deficit of clear profit over reasonable return |
-733.08 |
0.00 |
0.00 |