Quarterly Results

Noida Toll Bridge

21/07/2011 08:44

RNS Number : 7977K

Noida Toll Bridge Co. Ltd.

21 July 2011

 



Noida Toll Bridge Company Limited

("NTBCL" or the "Company")

Quarterly results

 

The Board of Directors of Noida Toll Bridge Company Limited approved the Company's results under Indian GAAP for the quarter ended June 30, 2011 today.

 

NTBCL has reported a PBT of Rs. 127.40 million for the quarter ended June, 2011 against Rs. 114.60 million in the corresponding quarter of the previous year.  The increase in PBT is due to overall reduction in expenditure. The profit after tax for the quarter has been Rs. 114.53 million compared to Rs. 100.74 million of the corresponding quarter of the previous year.

 

 

For further details, please contact:

 

Noida Toll Bridge Company Limited
Harish Mathur
+91 (0) 120 2516380
Collins Stewart Europe Limited
Bruce Garrow
+44 (0) 20 7523 8350

 

 

 

 

NOIDA TOLL BRIDGE COMPANY LIMITED
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2011
(Rs. in Lacs)
Sl.No.
Particulars
Quarter ended
Quarter ended
Year ended
30.06.2011
30.06.2010
31.03.2011
(Unaudited)
(Unaudited)
(Audited)
(1)
(2)
(3)
(4)
(5)
1
Net Sales / Income from operations
2,121.96
2,105.79
8,431.18
Total Revenue
2,121.96
2,105.79
8,431.18
2
Total Expenditure
a) O & M Expenses
193.35
180.23
713.08
b) Consumption of Cards/On Board units
1.72
3.92
15.26
c) Staff cost
94.62
143.41
492.38
d) Legal and Professional Charges
55.47
44.31
222.02
e) Advertisement and Business promotion
4.25
3.44
16.58
f) Rates & Taxes
90.92
72.93
580.96
g) Other expenditure
27.48
36.09
165.82
h) Overlay
20.58
82.55
i) Depreciation/Amortisation
109.65
124.13
447.73
Total Expenditure
577.46
629.04
2,736.38
3
Profit (+) / Loss (-) from Operations before Other Income, Interest & Exceptional items Activities before tax (1-2)
1,544.50
1,476.75
5,694.80
4
Other Income
68.27
32.81
300.69
5
Profit (+) / Loss (-) from before Interest & Exceptional items Activities before tax (3+4)
1,612.77
1,509.56
5,995.49
6
Interest
338.73
363.58
1,729.17
7
Profit (+) / Loss (-) after Interest & before Exceptional items Activities before tax (5-6)
1,274.04
1,145.98
4,266.32
8
Exceptional items
-
-
-
9
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8)
1,274.04
1,145.98
4,266.32
10
Tax Expenses
-
Income Tax
262.07
228.40
928.48
-
MAT Credit
(242.32)
(206.28)
(829.69)
-
Deferred Tax
109.00
116.50
418.23
11
Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)
1,145.29
1,007.36
3,749.30
12
Extraordinary items (Net of tax expense)
-
-
-
13
Net Profit (+) / Loss (-) for the period (11-12)
1,145.29
1,007.36
3,749.30


 

14
Paid-up equity share capital
(Face Value Rs 10)
18,619.50
18,619.50
18,619.50
15
Paid-up Debt Capital
13,237.28
16,860.56
13,866.31
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
26,989.06
24,187.49
25,843.77
17
Debenture Redemption Reserve
223.63
162.18
206.47
18
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)
0.62
0.54
2.01
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)
0.62
0.54
2.01
19
Debt Equity Ratio
0.29
0.39
0.31
20
Debt Service Coverage Ratio (DSCR)
1.61
3.49
1.23
21
Interest Service Coverage Ratio (ISCR)
4.76
4.15
3.47
22
Public Shareholding
- Number of Shares
137,054,920
135,485,495
137,054,920
- Percentage of Shareholding
73.61%
72.77%
73.61%
23
Promoters and promoter group Shareholding
a
Pledged/Encumbered
- Number of Shares
NIL
NIL
NIL
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
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
b
Non-encumbered
- Number of Shares
49095007
49095007
49095007
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
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%

 

 

Notes:
1
The above results have been taken on record by the Board of Directors at a meeting held on July 21, 2011.
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
There was no complaint pending at the beginning of the quarter. The Company has received and redressed seventeen complaints during the quarter and there were no complaints pending at the end of the quarter.
4
No provision for overlay has been made during the quarter as provision for first overlay (which was estimated to be performed during the year ended March 31, 2011) has already been made as per independent consultant's report. The Company has appointed another consultant to evaluate suitable method for carrying out overlay and advise on current estimate of the expenditure to be incurred. Necessary adjustment, if any, will be made on completion of the overlay.
5
Permission to display advertisement was renewed by MCD subject to payment of monthly license fee @ Rs 115/- per Sft. of the total display area or 25% of the gross revenue generated out of display whichever is higher.
The Company contested the aforesaid imposition @ Rs.115 on the ground that same was not permitted by the 2008 Outdoor Advertisement policy. On cancellation of the permission by MCD for non payment @ Rs 115, Company has filed a writ petition before the High Court. The Hon'ble High Court stayed the operation of the impungned order subject to NTBCL depositing 50% of License fee of Rs. 115/- per sqft.
Though the matter is sub judice the Company as an abundant caution, has decided to provide for license fee as demanded by MCD in full. Necessary adjustment, if any, would be made on the disposal of writ petition.
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 and on behalf of the Board of Directors
R.K.Bhargava
Chairman
Noida
July 21, 2011


 

 

 

 

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