REC- 1-51.p65 - Rural Electrification Corporation Ltd.

CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 ST MARCH 2010
(Rs. in Lacs)
Sch. No. Year ended Year ended
31.03.2010 31.03.2009
INCOME
Operating Income (Net) 11 6,54,975.79 4,75,717.01
Other Income 12 19,786.71 17,937.88
Total
EXPENSES
6,74,762.50 4,93,654.89
Interest and Other Charges 13 3,89,607.06 2,88,734.95
Establishment Expenses 14 12,205.38 8,909.75
Administration Expenses 15 3,115.60 2,353.83
Bond/ Debt Instrument Issue Expenses 16 1,507.73 979.50
Provision for bad & doubtful debts 22.18 237.05
Provision for Diminution in Investments - 105.34
Depreciation 217.76 137.07
Total 4,06,675.71 3,01,457.49
PROFIT FOR THE YEAR BEFORE PRIOR PERIOD ITEMS 2,68,086.79 1,92,197.40
Prior period adjustment - expenses/ (Income) (net) 10.60 -38.73
PROFIT BEFORE TAX
Provision for Tax:
2,68,076.19 1,92,236.13
Tax -Current Year 70,630.93 50,768.00
- Earlier year 2.83 2.15
- Adjustment for earlier years -4,835.11 -
- Deferred tax - Current Year 52.20 13,960.73
Fringe Benefit Tax - 152.70
Total 65,850.85 64,883.58
PROFIT AFTER TAX AND AVAILABLE FOR APPROPRIATION 2,02,225.34 1,27,352.55
Add: Reversal of deferred Tax Liability - Earlier Years 32,576.87 -
AMOUNT AVAILABLE FOR APPROPRIATION
Appropriations:
2,34,802.21 1,27,352.55
Transfer to Special Reserve u/s 36(1)(viii) of the Income Tax Act,1961 45,803.00 34,000.00
Reserve u/s 36(1)(viia) of the Income Tax Act,1961 for Bad & Doubtful Debts 10,760.00 8,000.00
Interim Dividend Paid
Corporate Dividend Tax
25,759.80 17,173.20
- Interim Dividend 4,377.03 2,918.58
Proposed Dividend 34,566.07 21,471.50
Dividend Tax on Proposed Dividend 5,741.01 3,649.08
Transfer to General Reserve 50,075.00 25,600.00
Surplus carried to Balance Sheet 57,720.30 14,540.19
Total
Basic & diluted Earning Per Share of Rs 10/- each- Amount in Rs.
2,34,802.21 1,27,352.55
[refer note on accounts (Schedule-17)] 23.30 14.83
Schedule 1 to 17 and Significant Accounting Policies form an integral part of Accounts.
In terms of our Report of even date
For K.G.Somani & Co. For Bansal & Co. For and on behalf of the Board
Chartered Accountants Chartered Accountants
Bhuvnesh Maheshwari D.S.Rawat B.R. Raghunandan H.D.Khunteta P. Uma Shankar
Partner Partner Company Secretary Director (Finance) Chairman & Managing Director
M.No. : 88155 M.No. : 83030
Firm Reg. No.: 006591N Firm Reg. No.: 001113N
Place: New Delhi
Date: 19 th May, 2010
CONSOLIDATED
85