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| NOIDA TOLL BRIDGE COMPANY LIMITED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2009 | | | | | | | | | | | | | (Rs. in Lacs) | | Sl.No. | | Particulars | Year ended | Year ended | Consolidated Year Ended | Consolidated Year Ended | | | 31.03.2009 | 31.03.2008 | 31.03.2009 | 31.03.2008 | | | | | (Audited) | (Audited) | (Audited) | (Audited) | | (1) | | (2) | (3) | (4) | (5) | (6) | | 1 | | Net Sales / Income from operations | 7,921.11 | 6,639.24 | 7,982.70 | 6,689.46 | | | | Total Revenue | 7,921.11 | 6,639.24 | 7,982.70 | 6,689.46 | | 2 | | Total Expenditure | | | | | | | | a) O & M Expenses | 649.56 | 536.12 | 347.95 | 252.12 | | | | b) Consumption of Cards/On Board Units | 21.39 | 17.19 | 21.39 | 17.19 | | | | c) Construction Contract Cost | 103.97 | | 103.97 | | | | | d) Staff cost | 705.50 | 510.71 | 1,030.89 | 669.82 | | | | e) Legal and Professional Charges | 211.49 | 259.27 | 223.64 | 271.97 | | | | f) Advertisement and Business promotion | 21.19 | 31.94 | 21.42 | 32.52 | | | | g ) Rates & Taxes | 23.75 | 44.57 | 23.84 | 45.12 | | | | h) Other expenditure | 230.49 | 266.26 | 269.30 | 422.46 | | | | i) Overlay | 92.95 | | 92.95 | | | | | j) Depreciation/Amortisation | 479.38 | 863.13 | 483.82 | 864.13 | | | | Total Expenditure | 2,539.67 | 2,529.19 | 2,619.17 | 2,575.33 | | 3 | | Profit (+) / Loss (-) from Operations before Other Income, Interest & Exceptional items Activities before tax (1-2) | 5,381.44 | 4,110.05 | 5,363.53 | 4,114.13 | | 4 | | Other Income | 110.90 | 548.89 | 113.79 | 550.36 | | 5 | | Profit (+) / Loss (-) from before Interest & Exceptional items Activities before tax (3+4) | 5492.34 | 4658.94 | 5477.32 | 4664.49 | | 6 | | Interest | 1,491.34 | 1,486.61 | 1,491.58 | 1,486.71 | | 7 | | Profit (+) / Loss (-) after Interest & before Exceptional items Activities before tax (5-6) | 4,001.00 | 3,172.33 | 3,985.74 | 3,177.78 | | 8 | | Exceptional items | - | - | - | - | | 9 | | Profit (+) / Loss (-) from Ordinary Activities before tax (7-8) | 4,001.00 | 3,172.33 | 3,985.74 | 3,177.78 | | 10 | | Tax Expenses | | | | | | | | - Income Tax/Fringe Benefit Tax | 464.97 | 374.73 | 468.15 | 379.82 | | | | - Deferred Tax | 167.30 | | 167.30 | | | 11 | | Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10) | 3,368.73 | 2,797.60 | 3,350.29 | 2,797.96 | | 12 | | Extraordinary items (Net of tax expense) | - | - | - | - | | 13 | | Net Profit (+) / Loss (-) for the period (11-12) | 3,368.73 | 2,797.60 | 3,350.29 | 2,797.96 | | 14 | | Paid-up equity share capital | | | | | | | (Face Value Rs 10) | 18,619.50 | 18,619.50 | 18,619.50 | 18,619.50 | | 15 | | Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year | | 18,202.12 | | 18,202.30 | | 16 | | Earning Per Share (EPS) | | | | | | | a | Basic and diluted EPS before extraordinary items for the period, for the year to date and for the previous year (not to be annualized) | 1.81 | 1.50 | 1.80 | 1.50 | | | b | Basic and diluted EPS after extraordinary items for the period, for the year to date and for the previous year (not to be annualized) | 1.81 | 1.50 | 1.80 | 1.50 | | 17 | | Public Shareholding | | | | | | | | - Number of Shares | 137,099,995 | 137,099,995 | 137,099,995 | 137,099,995 | | | | - Percentage of Shareholding | 73.63% | 73.63% | 73.63% | 73.63% | | 18 | | Promoters and promoter group Shareholding | | | | | | | a | Pledged/Encumbered | | | | | | | | - Number of Shares | NIL | NIL | NIL | NIL | | | | - Percentage of Shares (as a % of the total shareholding of promoter and promoter group) | N/A | N/A | N/A | N/A | | | | - Percentage of Shares (as a % of the total share capital of the company) | N/A | N/A | N/A | N/A | | | b | Non-encumbered | | | | | | | | - Number of Shares | 49,095,007 | N/A | 49,095,007 | N/A | | | | - Percentage of Shares (as a % of the total shareholding of promoter and promoter group) | 100.00% | N/A | 100.00% | N/A | | | | - Percentage of Shares (as a % of the total share capital of the company) | 26.37% | N/A | 26.37% | N/A | | | | | | | | | | Notes: | | | | | | | | 1 | | The above results have been taken on record by the Board of Directors at a meeting held on April 27,2009. | | | | | | | | | | 2 | | On adoption of the Guidance Note on ‘Accounting for Service Concession Arrangement’ issued by The Institute of Chartered Accountants of India , the Delhi Noida Link Bridge which was hitherto classified as Fixed Asset is now classified as Intangible Asset with effect from the first day of Financial Year 2008-09 i.e April 1, 2008. As the Grantor (NOIDA) grants right to collect toll from the users in exchange for providing the construction services to the Grantor, the intangible asset is recognized at cost i.e fair value of the construction services. The effect of the change has been adjusted in the opening revenue reserve in accordance with the Guidance Note. | | | | | | | The Company considers that it will not be able to earn the assured return under the concession agreement over 30 years. The company has an assured extension of the concession as required to achieve project cost and designated returns | | | | | | | Based on the independent professional expert’s advice, the estimated useful life of the Bridge has now been considered as 100 years. The carrying value of the intangible asset is amortised over the same estimated useful life under units of usage method i.e on the number of vehicles using the project facility based on the traffic study done by M/s Halcrow Consulting India Pvt. Ltd. The Company was hitherto depreciating the project asset as Fixed Asset on a Straight Line method over 62 years | | | | Consequent to the change in the estimated useful life, the charge for depreciation/ amortization has been reduced by Rs 49.70 million and the profit has been increased to that extent during the current financial year. The effect of the changes prior to the current financial year has been adjusted through the Reserve & Surplus. | | | | The provision for the road overlay is being built up in accordance with the provisions of AS 29,Provisions,Contingent Liabilities and Contingent Assets | | | | | | | | | | 3 | | The Company had only one business segment and therefore reporting of segment wise information under Clause 41 of the Listing Agreement is not applicable. | | 4 | | There were no investor complaints pending at the beginning of the quarter. The company has not received any investor complaints during the quarter. There were no investor complaints pending at the end of the quarter. | | 5 | | Previous period figures have been regrouped / reclassified wherever necessary. | For and on behalf of Board of Directors Director / Chairman New Delhi April 27, 2009
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