RNS Number : 5897W
Noida Toll Bridge Co. Ltd.
29 January 2013
Noida Toll Bridge Company Limited (NTBCL)
Regd. Office : Toll Plaza, DND Flyway, Noida 201 301, UP
The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company's unaudited results for the quarter and nine months ended December 31, 2012.
NTBCL has reported a PBT of Rs. 483.26 million for the nine months ended December 31, 2012 as against Rs. 357.02 million in the corresponding nine months of the previous year. The increase in PBT is due to increase in traffic compared to the previous year and reduction in Finance cost. The profit after tax for the nine months ended December 2012 has been Rs. 308.43 million compared to Rs. 306.18 million for the corresponding period of the previous year.
For further details contact:
Harish Mathur 00 91 120 2516380
Canaccord Genuity Limited 00 44 207 523 8350
Bruce Garrow
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS PERIOD ENDED DECEMBER 31, 2012
Rs in Lacs
Sl. No.
Particulars
Quarter ended
Quarter ended
Quarter ended
Period ended
Period ended
Year ended
31.12.2012
30.09.2012
31.12.2011
31.12.2012
31.12.2011
31.03.2012
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
1
Income from operations
2,749.84
2,599.71
2,482.84
7,773.49
6,818.94
9,295.19
Total Revenue
2,749.84
2,599.71
2,482.84
7,773.49
6,818.94
9,295.19
2
Total Expenditure
a)O & M Expenses
234.70
234.99
223.34
690.09
653.73
871.00
b)Employee Benefit Expenses
61.42
32.51
106.29
184.96
298.83
394.36
c)Legal and Professional Charges
60.44
63.36
72.39
171.11
198.92
271.47
d) Rates & Taxes
126.17
116.94
125.31
359.18
316.51
431.23
e) Depreciation/Amortisation
45.80
45.97
104.14
137.18
322.94
482.33
f) Overlay
177.49
394.57
179.55
744.15
278.98
371.97
g)Other expenditure
54.94
59.22
49.61
147.68
143.76
177.40
Total Expenditure
760.96
947.56
860.63
2,434.35
2,213.67
2,999.76
3
Profit (+) / Loss (-) from Operations before Other Income, Finance cost & Exceptional items (1-2)
1,988.88
1,652.15
1,622.21
5,339.14
4,605.27
6,295.43
4
Other Income
93.18
259.52
95.65
559.23
237.29
620.52
5
Profit (+) / Loss (-) from ordinary activities before Finance Cost & Exceptional items (3+4)
2,082.06
1,911.67
1,717.86
5,898.37
4,842.56
6,915.95
6
Finance Cost
240.10
557.39
314.59
1,065.80
1,272.38
1,567.52
7
Profit (+) / Loss (-) from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,841.96
1,354.28
1,403.27
4,832.57
3,570.18
5,348.43
8
Exceptional items
-
-
-
-
-
-
9
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8)
1,841.96
1,354.28
1,403.27
4,832.57
3,570.18
5,348.43
10
Tax Expenses
587.33
628.04
308.75
1,748.23
508.37
816.30
11
Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)
1,254.63
726.24
1,094.52
3,084.34
3,061.81
4,532.13
12
Extraordinary items (Net of tax expense)
-
-
-
-
-
-
13
Net Profit (+) / Loss (-) for the period (11-12)
1,254.63
726.24
1,094.52
3,084.34
3,061.81
4,532.13
14
Paid-up equity share capital
(Face Value Rs 10)
18,619.50
18,619.50
18,619.50
18,619.50
18,619.50
18,619.50
15
Paid-up Debt Capital
N/A
N/A
N/A
8,849.18
11,983.01
10,856.13
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
N/A
N/A
N/A
31,296.09
27,823.50
28,211.82
17
Debenture Redemption Reserve
N/A
N/A
N/A
334.55
258.32
275.29
18
Earning Per Share (before extraordinary items)
a
Basic
0.67
0.39
0.59
1.66
1.64
2.43
b
Diluted
0.67
0.39
0.59
1.66
1.64
2.43
Earning Per Share (after extraordinary items)
a
Basic
0.67
0.39
0.59
1.66
1.64
2.43
b
Diluted
0.67
0.39
0.59
1.66
1.64
2.43
19
Debt Equity Ratio
N/A
N/A
N/A
0.19
0.26
0.23
20
Debt Service Coverage Ratio (DSCR)
N/A
N/A
N/A
1.85
1.49
1.47
21
Interest Service Coverage Ratio (ISCR)
N/A
N/A
N/A
5.53
3.81
4.41
A
Particulars of Shareholding
1
Public Shareholding
- Number of Shares
137,054,920
137,054,920
137,054,920
137,054,920
137,054,920
137,054,920
- Percentage of Shareholding
73.61%
73.61%
73.61%
73.61%
73.61%
73.61%
2
Promoters and promoter group Shareholding
a
Pledged/Encumbered
- Number of Shares
NIL
NIL
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
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
N/A
N/A
b
Non-encumbered
- Number of Shares
49,095,007
49,095,007
49,095,007
49,095,007
49,095,007
49,095,007
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
- Percentage of Shares (as a % of the total share capital of the company)
26.37%
26.37%
26.37%
26.37%
26.37%
26.37%
B
Investors Complaints
3 months ended 31-December-2012
Pending at the beginning of the quarter
-
Received during the quarter
87
Disposed of during the quarter
87
Remaining unresolved at the end of the quarter
-
Notes:
1
The above results have been taken on record by the Board of Directors at a meeting held on January 28, 2013.
2
The Company had only one business segment and therefore reporting of segment wise information under Clause 41 of the Listing Agreement is not applicable.
3
Hitherto the amortisation of Intangible Assets arising out of Service Concession Arrangements was based on units of usage method i.e. on the number of vehicles expected to use the project facility over the concession period as estimated by the management. Based on the notification dated April 17, 2012 issued by Ministry of Corporate Affairs, the Company has changed the method of amortisation of Intangible Assets arising out of Service Concession Arrangements prospectively. Effective April 01, 2012 the amortisation is in proportion to the revenue earned for the period to the total estimated toll revenue i.e. expected to be collected over the balance concession period. Had the Company followed the earlier method, amortisation would have been higher by Rs.214.64 Lacs
4
Unabsorbed depreciation is being set off against taxable profits during the current period resulting into reversal of deferred tax asset recognised on the same in earlier years. The foregoing has resulted in increase in tax expense during the current period.
5
New Okhla Industrial Development Authority has initiated preliminary discussion with the Company to consider modification of some of the tems and conditions of the Concession Agreement. Pending final outcome of such discussions the accounts have been prepared based on the extant Concession Agreement.
6
Coverage Ratios has been Calculated as under ;
a)
Debt Equity Ratio = Total Debt/(Paid-up Equity Share Capital+Reserves excluding Revaluation Reserve)
b)
Debt Service Coverage Ratio= Profit before Interest,Exceptional Items & tax / (Interest+Principal Repayment)
c)
Interest Service Coverage Ratio= Profit before Interest,Exceptional Items & tax / Interest Expenses
7
Previous period figures have been regrouped / reclassified wherever necessary.
As per our separate report of even date attached
For Luthra & Luthra
For and on behalf of the Board of Directors
Chartered Accountants
(Reg No.002081N)
Akhilesh Gupta
Partner
Harish Mathur
(M.No. 89909)
Noida
Noida
January 29, 2013
January 29, 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRTEAEFNASFDEFF
