|
Licensee:-WESCO LTD. |
OERC |
ANNEX-B |
|
CALCULATION OF CLEAR PROFIT FOR THE FINANCIAL YEAR 2003-04 |
|
AS PER THE SCHEDULE VI OF ELECTRICITY SUPPLY ACT, 1948
PARA XVII (2) |
|
Rs. in Crore
|
|
(A) |
|
Income derived from : |
PROPOSAL |
Approval (With Parekh Committee) |
Approval (Without Parekh Committee) |
|
|
i) |
Gross receipt from Sale of energy less discounts
applicable thereto. |
743.59 |
718.20 |
718.20 |
|
|
ii) |
Rental of meters and other apparatus hired to consumers
including DPS |
6.40 |
6.40 |
6.40 |
|
|
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) |
13126.49 |
27163.55 |
749.99 |
|
(B) |
|
Expenditure properly incurred on : |
|
|
|
|
|
i) |
Generation & purchase of energy |
50.52 |
270.38 |
471.11 |
|
|
ii) |
Distribution and sale of energy |
|
|
|
|
|
|
a) Employees cost |
13.83 |
36.62 |
52.42 |
|
|
|
b) Material |
12.78 |
8.52 |
21.30 |
|
|
|
c) A&G expenses |
1.92 |
5.09 |
7.15 |
|
|
iii) |
Rents, rates & taxes, other than all taxed on income
and profit |
0.67 |
1.79 |
2.51 |
|
|
iv) |
Interest on loan advanced by GRIDCO |
10.07 |
6.71 |
16.78 |
|
|
iv.a) |
Interest on loan borrowed from Organisation |
9.32 |
6.21 |
15.53 |
|
|
|
DPS GRIDCO |
2.38 |
12.77 |
15.15 |
|
|
iv.b) |
Interest on WESCO POWER BOND |
7.73 |
5.15 |
12.88 |
|
|
iv.c) |
Interest on APDRP |
0.18 |
0.12 |
0.29 |
|
|
v) |
Interest on security deposit |
|
|
|
|
|
vi) |
Legal charges |
0.04 |
0.10 |
0.14 |
|
|
vii) |
Bad debts |
1.29 |
21.04 |
22.33 |
|
|
viii) |
Auditors fees |
0.00 |
0.02 |
0.05 |
|
|
ix) |
Management including managing agents remuneration |
|
|
|
|
|
x) |
Depreciation |
|
18.40 |
12.27 |
|
|
xi) |
Other expenses |
|
|
|
|
|
xii) |
Contribution to P.F., staff pension and gratuity |
0.32 |
2.25 |
5.95 |
|
|
xii.a) |
Expenses on apprentice & other training scheme |
0.00 |
0.01 |
0.02 |
|
|
xiii) |
Bonus |
|
|
|
|
|
Total expenditure i.e. total of (B) (i to xiii) |
|
152.71 |
131.39 |
392.78 |
|
(C) |
|
Special appropriation to cover : |
|
|
|
|
|
i) |
Previous losses |
|
|
70.86 |
|
|
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 |
|
0.89 |
0.59 |
|
|
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) |
0.00 |
0.89 |
71.45 |
|
|
|
CLEAR PROFIT (A-B-C) |
34556.45 |
12994.21 |
26699.32 |
|
|
|
Reasonable Return (Form No. F.14) |
|
|
|
|
|
|
Excess or deficit of clear profit over reasonable return |
|
|
|