Licencee:-WESCO 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 |
(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. |
542.18 |
616.66 |
616.66 |
| |
ii) |
Rental
of meters and other apparatus hired to consumers. |
3.80 |
3.80 |
3.80 |
| |
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) |
545.98 |
620.46 |
620.46 |
(B) |
Expenditure
properly incurred on : |
|
|
|
| |
i) |
Generation
& purchase of energy |
438.01 |
416.60 |
520.81 |
|
ii) |
Distribution
and sale of energy |
|
|
|
| |
|
a)
Employees cost |
53.14 |
56.87 |
56.87 |
| |
|
b)
Material |
20.69 |
20.69 |
20.69 |
| |
|
c)
A&G expenses |
7.60 |
4.42 |
4.42 |
| |
iii) |
Rents,
rates & taxes, other than all taxed on income and profit |
0.53 |
Included
inA&G |
Included
inA&G |
| |
iv) |
Interest
on loan advanced by GRIDCO |
12.58 |
12.58 |
12.58 |
| |
iv.a) |
Interest
on loan borrowed from Organisation |
12.04 |
6.68 |
9.54 |
| |
|
DPS
GRIDCO |
48.50 |
Included
inA&G |
Included
inA&G |
| |
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 |
Included
inA&G |
| |
vii) |
Bad
debts |
20.70 |
15.42 |
15.42 |
| |
viii) |
Auditors
fees |
0.05 |
Included
inA&G |
Included
inA&G |
| |
ix) |
Management
including managing agents remuneration |
|
|
|
| |
x) |
Depreciation |
29.78 |
14.48 |
14.48 |
| |
xi) |
Other
expenses |
0.00 |
0.00 |
0.00 |
| |
xii) |
Contribution
to P.F., staff pension and gratuity |
8.49 |
Included
in empcost |
Included
in empcost |
| |
xii.a) |
Expenses
on apprentice & other training scheme |
0.08 |
Included
inA&G |
Included
inA&G |
| |
xiii) |
Bonus |
|
|
|
| |
Total expenditure i.e. total of (B) (i to xiii) |
665.19 |
556.49 |
667.68 |
(C) |
|
Special
appropriation to cover : |
|
|
|
| |
i) |
Previous
losses (20% claimed) |
52.67 |
0.00 |
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 |
1.44 |
1.44 |
1.44 |
| |
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) |
54.11 |
1.44 |
1.44 |
| |
|
CLEAR
PROFIT (A-B-C) |
(173.31) |
62.54
|
(48.66) |
| |
|
Reasonable
Return (Form No. F.14) |
0.99
|
1.51
|
1.51
|
| |
|
Excess
or deficit of clear profit over reasonable return |
(174.30) |
61.03
|
(50.16) |