Licencee …Grid Corporation of Orissa Limited.......................................

Annex - 2

CALCULATION OF CLEAR PROFIT FOR THE ENSUING FINANCIAL YEAR 2001-02

AS PER THE SCHEDULE VI OF ELECTRICITY SUPPLY ACT, 1948 PARA - XVII (2)

Rs. in crore

(A)

Income derived from :

GRIDCO Poposal 2001-02

2001-02 (With corrective)

2001-02 (Without corrective)

 

i)

Gross receipt from Sale of energy to DISTCOS

2267.96

1510.22

1510.22

   

less: discounts applicable thereto

0.00

0.00

 
 

Net receipt from Sale of energy to DISTCOS

2267.96

1510.22

1510.22

   

Gross receipt from direct Sale of energy to other than DISTCOS less discounts applicable thereto.

 

172.86

172.86

 

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.

 

37.57

37.57

Total of (A) (i to vii)

2283.43

1720.65

1720.65

(B)

 

Expenditure properly incurred on :

     
 

i)

Cost of Purchase of Energy

1502.71

1167.82

1414.34

 

ii)

Transmission Cost (O/M)

     
 

a)

Employees cost

99.65

82.34

82.34

 

b)

Material

27.16

15.99

15.99

 

c)

A&G expenses

21.74

12.86

12.86

 

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

236.61

162.01

216.77

 

iv.a)

Interest on loan borrowed from Organisation

     
 

iv.b)

Interest on debenture issued by licensee

     
   

Interest on working capital

54.25

54.25

54.25

 

v)

Interest on security deposit

     
 

vi)

Legal charges

     
 

vii)

Bad debts

8.71

0

0

 

viii)

Auditors fees

     
 

ix)

Management including managing agents remuneration

     
 

x)

Depreciation

90.30

44.96

44.96

 

xi)

Other expenses

3.72

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)

2049.26

1546.01

1847.29

(C)

 

Special appropriation to cover :

     

i)

Previous losses

108.25

108.25

108.25

 

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

7.31

7.31

7.31

 

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)

115.56

115.56

115.56

CLEAR PROFIT (A-B-C)

118.61

59.08

-242.20

Reasonable Return

118.61

15.49

15.49

Excess or deficit of clear profit over reasonable return

0.00

43.59

-257.68


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