Licencee:-SOUTHCO 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

     

SOUTHCO's

COMMISSION

COMMISSION

(A)

Income derived from :

PROPOSAL

APPROVAL

APPROVAL

         

(With corrective)

(Without corrective)

 

i)

Gross receipt from Sale of energy less discounts applicable thereto.

256.17

310.57

310.57

 

ii)

Rental of meters and other apparatus hired to consumers.

3.55

3.55

3.55

 

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)

259.72

314.12

314.12

(B)

Expenditure properly incurred on :

      
 

i)

Generation & purchase of energy

210.36

207.42

266.30

  

ii)

Distribution and sale of energy

     
   

a) Employees cost

46.45

48.53

48.53

   

b) Material

16.82

16.82

16.82

   

c) A&G expenses

6.96

3.33

3.33

 

iii)

Rents, rates & taxes, other than all taxed on income and profit

0.43

Included in A&G

Included in A&G

 

iv)

Interest on loan advanced by GRIDCO and others

10.82

11.13

11.13

 

iv.a)

Interest on loan borrowed from Organisation

8.01

5.79

8.01

 

iv.b)

Interest on debenture issued by licensee

16.25

11.05

16.25

 

v)

Interest on security deposit

21.42

0.00

0

 

vi)

Legal charges

0.13

Included in A&G

Included in A&G

 

vii)

Bad debts

10.00

7.76

7.76

 

viii)

Auditors fees

0.05

Included in A&G

Included in A&G

 

ix)

Management including managing agents remuneration

     
 

x)

Depreciation

26.35

12.74

12.74

 

xi)

Other expenses

0.09

Included in A&G

Included in A&G

 

xii)

Contribution to P.F., staff pension and gratuity

6.53

Included in EMP cost

Included in EMP cost

      

1.32

Included in EMP cost

Included in EMP cost

 

xii.a)

Expenses on apprentice & other training scheme

0.06

Included in A&G

Included in A&G

 

xiii)

Bonus

0.03

Included in EMP cost

Included in EMP cost

 

Total expenditure i.e. total of (B) (i to xiii)

382.10

324.58

390.88

(C)

 

Special appropriation to cover :

     
  

i)

Previous losses

301.05

0

0

 

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

1.26

1.26

1.26

 

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)

302.31

1.26

1.26

   

CLEAR PROFIT (A-B-C)

(424.70)

(11.72)

(78.02)

   

Reasonable Return (Form No. F.14)

 

1.67

1.67

   

Excess of clear profit over reasonable return

 

(13.39)

(79.69)