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) |