Interim Results
18 11월 2003 - 4:00PM
UK Regulatory
RNS Number:1458S
CESC Ld
17 November 2003
CESC LIMITED
Registered Office: CESC House, Chowringhee Square, Kolkata 700 001
Unaudited Financial Results (Provisional) for the quarter/half year ended 30 September, 2003
Three months Three months Six months Six months Year
ended 30.9.2003 ended 30.9.2002 ended 30.9.2003 ended 30.9.2002 ended 31.3.2003
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
(1) (2) (3) (4) (5)
Rs. Crores
1 Net Sales 659 594 1299 1144 2185
2 Other Income 15 14 28 27 58
Total Income 674 608 1327 1171 2243
3 Total
Expenditure:
(a) Fuel Cost 193 183 371 344 641
(b) Personnel Cost 69 65 138 123 256
(c) Power Purchase 92 96 195 192 301
(d) Others 121 87 223 173 318
4 Interest 95 108 199 213 396
5 Profit before 104 69 201 126 331
Depreciation
6 Depreciation 81 81 163 161 323
7 Profit/(Loss) 23 (12) 38 (35) 8
before tax
8 Provision for 0 0 0 0 1
Taxation
9 Net Profit/(Loss) 23 (12) 38 (35) 7
10 Paid-up Equity 63 58 63 58 58
Share Capital
(Shares of Rs.10
Each)
11 Net Reserves
(excluding
Revaluation
Reserve of Rs.
1311 Crores) as
per
Balance Sheet
as on 31 March
2003 437
12 EPS (Rs.)
- Basic & Diluted 3.67 (2.08) (6.06) (6.05) (1.01)
13 Aggregate of Non-
Promoter Shareholding
- Number of Equity
Shares 387 lakhs 414 lakhs 412 lakhs
- Percentage of Share-
holding 61.57% 65.81% 65.54%
Notes
1. Net Sales in Columns (1) and (3) above have been accounted for based on
the interim tariff order dated 23rd April, 2003 of the West Bengal
Electricity Regulatory Commission (Commission) for the year 2003-04.
Accordingly the above referred results are subject to changes based on
the final order of the Commission on the tariff petition made by the
Company for the said year. Figures in Columns (2) and (4) above are as
submitted earlier to the Stock Exchanges, but incorporating adjustments
for exchange rate variation.
2. The Company is engaged in generation and distribution of electricity and
does not operate in any other reportable segment.
3. Auditors' Report on the accounts for the year 2002-2003 included reference
to certain Notes on Accounts relating to some unprovided claims of Damodar
Valley Corporation/West Bengal State Electricity Board, diminution in the
value of investment (not considered to be permanent in nature by the
Company) and shortfall in corpus of gratuity fund. The Company, in view
of consistently followed past practice compatible with the nature of its
business, has followed the same basis of accounting in respect of these
matters. The financial impact of the aforesaid matters pertaining to the
period ended 30 September, 2003 is not ascertainable at this stage.
4. Upon redressal of 3 investor complaints received during the quarter,
there was no unresolved complaint as at 30 September, 2003
Dated: 31st October, 2003
This information is provided by RNS
The company news service from the London Stock Exchange
END
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