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Profit and Loss Account<br />
(All amounts in millions of Indian Rupees, unless otherwise stated)<br />
Year ended<br />
31 March 2011<br />
Year ended<br />
31 March 2010<br />
Schedule<br />
INCOME<br />
Sales and operating income 15 12,122.48 10,296.87<br />
Less: Excise duty 108.95 77.76<br />
Sales tax 478.02 388.83<br />
Net sales and operating income 11,535.51 9,830.28<br />
Other income 16 314.72 91.90<br />
11,850.23 9,922.18<br />
EXPENDITURE<br />
Cost of sales 17 3,914.14 3,263.93<br />
Selling and operating expenses 18 4,288.09 4,473.21<br />
Depreciation/amortisation 6 209.88 212.78<br />
Interest (net) 19 360.82 301.58<br />
Research and development expenses 20 569.20 460.55<br />
9,342.13 8,712.05<br />
PROFIT BEFORE TAX 2,508.10 1,210.13<br />
Provision for taxation [Refer Note 10 of Schedule 21]<br />
- Current year [includes wealth tax provision ` 0.17<br />
(Previous Year - ` 0.20)] 674.15 247.49<br />
- MAT Credit (entitlement)/utilisation (286.15) (229.80)<br />
- Deferred tax credit (1.68) (92.19)<br />
NET PROFIT AFTER TAX 2,121.78 1,284.63<br />
Balance profit brought forward 8,511.12 7,480.98<br />
NET PROFIT AVAILABLE FOR APPROPRIATION 10,632.90 8,765.61<br />
Proposed dividend on equity shares 108.11 107.94<br />
Tax on proposed dividend on equity shares 17.96 17.93<br />
Residual dividend and dividend tax 0.50 0.16<br />
Transfer to general reserve 212.19 128.46<br />
BALANCE CARRIED TO BALANCE SHEET 10,294.14 8,511.12<br />
Earnings per share (`) [Refer Note 5 of Schedule 21]<br />
Basic 7.86 4.93<br />
Diluted 7.85 4.92<br />
Face value per share (in `) 1.00 1.00<br />
NOTES TO THE FINANCIAL STATEMENTS 21<br />
Schedules referred to above and notes attached thereto form an integral<br />
part of the Profit and Loss Account.<br />
This is the Profit and Loss Account referred to in our report of even date.<br />
For Walker, Chandiok & Co.<br />
Chartered Accountants<br />
For and on behalf of the Board of Directors<br />
Khushroo B. Panthaky Glenn Saldanha Cheryl Pinto<br />
Partner Chairman & Managing Director Director<br />
Place: Mumbai<br />
Date: 10 May 2011<br />
Marshall Mendonza<br />
Vice President - Legal & Company Secretary<br />
Annual Report 2010-2011 53