RNS Number : 8018I
Noida Toll Bridge Co. Ltd.
30 July 2012
Noida Toll Bridge Company Limited
The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company's results for the quarter ended June 30, 2012 today.
NTBCL has reported a PBT of Rs. 163.63 million for the quarter ended June, 2012 against Rs. 127.40 million in the corresponding quarter of the previous year (28% increase). The increase in PBT is mainly due to increase in traffic/toll revenue.
The Average Daily Traffic (ADT) for the quarter ended June 2012 was 1,07,212 vehicles as compared to 1,03,774 vehicles in the corresponding quarter of the previous financial year showing an increase of more than 3%.
The growth in Toll Revenue for this quarter as compared to the corresponding quarter of the previous year is more than 15%.
NOIDA TOLL BRIDGE COMPANY LIMITED
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2012
Rs in lacs
Sl.No.
Particulars
Quarter ended
Quarter ended
Year ended
30.06.2012
30.06.2011
31.03.2012
(Unaudited)
(Unaudited)
(Audited)
(1)
(2)
(3)
(4)
(5)
1
Income from operations
2,423.94
2,121.96
9,295.19
Total Revenue
2,423.94
2,121.96
9,295.19
2
Total Expenditure
a)O & M Expenses
220.40
195.9
871.00
b) Employee Benefit Expenses
91.03
94.62
394.36
c)Legal and Professional Charges
47.31
55.47
271.47
d) Rates & Taxes
116.07
90.92
431.23
e) Depreciation/Amortisation
45.41
109.65
482.33
f) Overlay
172.09
-
371.97
g)Other expenditure
33.52
31.73
177.40
Total Expenditure
725.8
578.32
2,999.76
3
Profit (+) / Loss (-) from Operations before Other Income, Finance cost & Exceptional items (1-2)
1,698.11
1,543.64
6,295.43
4
Other Income
206.53
69.13
620.52
5
Profit (+) / Loss (-) from ordinary activities before Finance Cost & Exceptional items (3+4)
1,904.64
1,612.77
6,915.95
6
Finance Cost
268.31
338.73
1,567.52
7
Profit (+) / Loss (-) from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,636.33
1,274.04
5,348.43
8
Exceptional items
-
-
-
9
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8)
1,636.33
1,274.04
5,348.43
10
Tax Expenses
532.86
128.75
816.30
11
Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)
1,103.47
1,145.29
4,532.13
12
Extraordinary items (Net of tax expense)
-
-
-
13
Net Profit (+) / Loss (-) for the period (11-12)
1,103.47
1,145.29
4,532.13
14
Paid-up equity share capital
(Face Value Rs 10)
18,619.50
18,619.50
18,619.50
15
Paid-up Debt Capital
10,186.89
13,237.28
10,856.13
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
29,267.29
26,989.06
28,211.82
17
Debenture Redemption Reserve
294.90
223.63
275.29
18
Earning Per Share (before extraordinary items)
a
Basic
0.59
0.62
2.43
b
Diluted
0.59
0.62
2.43
Earning Per Share (after extraordinary items)
a
Basic
0.59
0.62
2.43
b
Diluted
0.59
0.62
2.43
19
Debt Equity Ratio
0.21
0.29
0.23
20
Debt Service Coverage Ratio (DSCR)
1.96
1.61
1.47
21
Interest Service Coverage Ratio (ISCR)
7.10
4.76
4.41
A
Particulars of Shareholding
1
Public Shareholding
- Number of Shares
137,054,920
137,054,920
137,054,920
- Percentage of Shareholding
73.61%
73.61%
73.61%
2
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%
B
Investors Complaints
3 months ended 30-June-2012
Pending at the beginning of the quarter
-
Received during the quarter
17
Disposed of during the quarter
17
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 July 30, 2012.
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.71.03 Lacs
4
New Okhla Industrial Development Authority has initiated preliminary discussion with the Company to consider modification of some of the terms and conditions of the Concession Agreement. Pending final outcome of such discussions the accounts have been prepared based on the extant Concession Agreement.
5
Coverage Ratios have 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
6
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)
Executive Director & CEO
Noida
Noida
July 30, 2012
July 30, 2012
For further details please contact:
Harish Mathur
00 91 120 2516380
July 30, 2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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