DRIVIN G ROWTH - Dr. Reddy's

schedule to the consolidated balance sheet and profit and loss account
7. DEFERRED TAXATION
Deferred tax liability included in the balance sheet comprises the following:
(Rs. thousand)
As at March 31, 2002
Deferred tax asset
Inventories 67,670
Other current assets 6,778
Carry forward loss 39,460
Sundry creditors 52,663
Current liabilities 3,100
Provisions 20,117
Expenses deferred for tax purposes
Deferred tax liability
12,325
202,113
Fixed assets 465,992
Sundry debtors 33,453
(499,445)
Deferred tax liability (net) (297,332)
The net deferred tax liability of Rs. 297,332 thousand has been presented in the balance sheet as follows:
Deferred tax asset : 68,955
Deferred tax liability
[Refer Note1(l)]
: (366,287)
Consequent to the adoption of Accounting Standard 22 – Accounting for Taxes on Income by the Group, with effect from April
1, 2001, the accumulated deferred tax liability (net) amounting to Rs. 655,051 thousand on account of timing differences between
the book and tax profits upto March 31, 2001 has been debited to the General Reserve Account.
8. EARNINGS PER SHARE
The computation of EPS is set out below:
(Rs. thousand)
For the year ended
Particulars March 31, 2002
Basic & Diluted EPS
Earnings
Net profit for the year 4,579,408
Shares
Weighted average number of equity shares outstanding during the year 76,092,181
Earnings per share of face value Rs. 5 60.18
Outstanding options have an anti-dilutive effect on the EPS for the year ended March 31, 2002. Hence, there is no dilution of EPS
for the year.
CONSOLIDATED FINANCIALS | FINANCIALS | ANNUAL REPORT 2001-2002
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