January 29, 2001

The Tata Power Company Ltd.

Unaudited financial results (Provisional) for the quarter / nine months ended 31st December 2000

Rs. crores
Sr.
no
Particulars Quarter ended Nine months ended Year ended
31-12-00 31-12-99 31-12-00 31-12-99 31-3-00
1 Sales 884.57 373.94 2683.53 1030.38 1389.60
2 Other income 38.08 39.11 203.18 125.47 181.33
3 Total income 922.65 413.05 2886.71 1155.85 1570.93
4 Total Expenditure
a. Staff cost 32.00 15.53 99.46 45.90 64.24
b. Cost of power purchased 100.49 46.12 300.43 140.71 186.87
c. Cost of fuel 466.68 167.39 1411.48 435.00 585.49
d. Other expenditure 99.62 54.42 313.50 157.96 199.57
Total expenditure (4a to 4d) 698.79 283.46 2124.87 779.57 1036.17
5 Interest 58.46 24.04 154.49 73.90 104.54
6 Depreciation 51.16 25.19 153.49 75.57 100.60
7 Profit before tax (3-4-5-6) 114.24 80.36 453.86 226.81 329.62
8 Provision for taxation 12.68 31.39 131.34 73.80 97.59
9 Net profit after taxes (7-8) (subject to Statutory Appropriations) 101.56 48.97 322.52 153.01 232.03
10 Paid up equity share capital (Face value Rs. 10 per share) 197.91 115.56 197.91 115.56 115.54
11 Reserves, including statutory reserves - - - - 1741.05
12 Earnings per share on Net Profit (In Rupees) 5.13 4.21 16.28 13.16 20.06

Notes

  1. The financial results for the quarter and nine months ended 31st December, 2000 represent the results of the merged entity consequent upon the Amalgamation of The Andhra Valley Power Supply Co. Ltd. and The Tata Hydro-Electric Power Supply Co. Ltd. with the Company whereas the financial results for the quarter and nine months ended 31st December, 1999 and the year ended 31st March, 2000 represent the results of The Tata Power Co. Ltd. (without amalgamation) and hence are not comparable.

  2. The Amalgamation has been accounted for under the "Pooling of interest method" according to the Accounting Standard 14 issued by the Institute of Chartered Accountants of India.

  3. Other income includes dividend income that has been considered on a pro-rata basis.

  4. The Company has acquired Tata Petrodyne Ltd. for a consideration of Rs.145 crores from Tata Industries Ltd.

  5. Consequent upon the Amalgamation, Chemical Terminal Trombay Ltd. has become a subsidiary of the Company.

  6. The paid up Equity Share Capital of the merged Company after cancellation of the cross holdings is Rs. 197.91 crores.

  7. The quarterly results are not representative of the results for the whole year.

  8. The above results were taken on record by the Board of Directors at its meeting held on 29th January, 2001.

For and on behalf of the Boards of:
THE TATA POWER COMPANY LTD.

Mumbai
Dated: 29 January 2001

Ratan Tata