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)

 


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