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)