Licencee:-NESCO LTD. |
Annex-C2 |
CALCULATION OF CLEAR PROFIT FOR THE FINANCIAL YEAR 2002-03 |
Rs.
in crore |
AS PER THE SCHEDULE VI OF ELECTRICITY SUPPLY ACT, 1948 PARA XVII (2) |
(A) |
|
Income
derived from : |
Amount(Proposed
by Nesco) |
Amount
(Approved by OERC) with correctives |
Amount
(Approved by OERC) without correctives |
| |
i) |
Gross receipt from Sale of energy less discounts applicable thereto. |
339.91 |
381.26 |
381.26 |
| |
ii) |
Rental of meters and other apparatus hired to consumers. |
2.60 |
2.60 |
2.60 |
| |
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) |
342.50 |
383.86 |
383.86 |
(B) |
|
Expenditure properly incurred on : |
| |
i) |
Generation & purchase of energy |
321.52 |
287.97 |
365.87 |
| |
ii) |
Distribution and sale of energy |
|
|
|
| |
|
a) Employees cost |
54.64 |
51.11 |
51.11 |
| |
|
b) Material |
19.36 |
19.36 |
19.36 |
| |
|
c) A&G expenses |
7.58 |
6.52 |
6.52 |
| |
iii) |
Rents, rates & taxes, other than all taxed on income and profit |
0.00 |
0.00 |
0.00 |
| |
iv) |
Interest on loan advanced by GRIDCO |
14.84 |
9.02 |
9.02 |
| |
iv.a) |
Interest on loan borrowed from Organisation |
10.18 |
7.12 |
10.18 |
| |
|
DPS GRIDCO |
25.65 |
0.00 |
0.00 |
| |
iv.b) |
Interest on debenture issued by licensee |
20.88 |
14.20 |
20.88 |
| |
v) |
Interest on security deposit |
|
|
|
| |
vi) |
Legal charges |
0.00 |
0.00 |
0.00 |
| |
vii) |
Bad debts |
13.59 |
9.53 |
9.53 |
| |
viii) |
Auditors fees |
0.00 |
0.00 |
0.00 |
| |
ix) |
Management including managing agents remuneration |
|
|
|
| |
x) |
Depreciation |
28.26 |
13.72 |
13.72 |
| |
xi) |
Other expenses |
0.00 |
0.00 |
0.00 |
| |
xii) |
Contribution to P.F., staff pension and gratuity |
0.00 |
0.00 |
0.00 |
| |
xii.a) |
Expenses on apprentice & other training scheme |
0.00 |
0.00 |
0.00 |
| |
xiii) |
Bonus |
|
|
|
Total expenditure i.e. total of (B) (i to xiii) |
516.48 |
418.54 |
506.17 |
(C) |
Special appropriation to cover : |
| |
i) |
Previous losses (1/3rd claimed) |
|
|
|
| |
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 |
1.36 |
1.36 |
1.36 |
| |
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) |
1.36 |
1.36 |
1.36 |
CLEAR PROFIT (A-B-C) |
(175.34) |
(36.04) |
(123.68) |
Reasonable Return (Form No. F.14) |
1.72 |
1.72 |
1.72 |
Excess or deficit of clear profit over reasonable
return |
(177.06) |
(37.77) |
(125.40) |