RNS Number : 7446P
Noida Toll Bridge Co. Ltd.
29 October 2012
Noida Toll Bridge Company Limited
Regd. Office : Toll Plaza, DND Flyway, Noida 201 301, Uttar Pradesh, India
The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company's results for the half year ended September 30, 2012 today.
NTBCL has reported a PBT of Rs. 299.06 million for the half year ended September 2012 against Rs. 216.69 million in the corresponding half year of the previous year. The increase in PBT is due to reduction in interest cost and increase in income from operations.
The profit after tax for the current half year has been Rs. 182.97 million compared to Rs. 196.73 million of the corresponding half year of the previous year. The decrease is due to increased provision for deferred tax liabilities.
For further details please contact:
Harish Mathur
00 91 120 2516380
Canaccord Genuity Limited
Bruce Garrow
00 44 20 7523 8350
NOIDA TOLL BRIDGE COMPANY LIMITED
AUDITED FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2012
(Rs. in Lacs)
Sl. No.
Particulars
Quarter ended
Quarter ended
Quarter ended
Half year ended
Half year ended
Year ended
30.09.2012
30.06.2012
30.09.2011
30.09.2012
30.09.2011
31.03.2012
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
1
Income from operations
2,599.71
2,423.94
2,214.14
5,023.65
4,336.10
9,295.19
Total Revenue
2,599.71
2,423.94
2,214.14
5,023.65
4,336.10
9,295.19
2
Total Expenditure
a) O & M Expenses
234.99
220.40
232.27
455.39
430.39
871.00
b) Employee Benefit Expenses
32.51
91.03
97.92
123.54
192.54
394.36
c) Legal and Professional Charges
63.36
47.31
71.06
110.67
126.53
271.47
d) Rates & Taxes
116.94
116.07
100.28
233.01
191.20
431.23
e) Depreciation/Amortisation
45.97
45.41
109.15
91.38
218.80
482.33
f) Overlay
394.57
172.09
99.43
566.66
99.43
371.97
g) Other expenditure
59.22
33.52
65.47
92.74
94.15
177.40
Total Expenditure
947.56
725.83
775.58
1,673.39
1,353.04
2,999.76
3
Profit (+) / Loss (-) from Operations before Other Income, Finance cost & Exceptional items (1-2)
1,652.15
1,698.11
1,438.56
3,350.26
2,983.06
6,295.43
4
Other Income
259.52
206.53
73.37
466.05
141.64
620.52
5
Profit (+) / Loss (-) from ordinary activities before Finance Cost & Exceptional items (3+4)
1,911.67
1,904.64
1,511.93
3,816.31
3,124.70
6,915.95
6
Finance Cost
557.39
268.31
619.06
825.70
957.79
1,567.52
7
Profit (+) / Loss (-) from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,354.28
1,636.33
892.87
2,990.61
2,166.91
5,348.43
8
Exceptional items
-
-
-
-
-
-
9
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8)
1,354.28
1,636.33
892.87
2,990.61
2,166.91
5,348.43
10
Tax Expenses
628.04
532.86
70.87
1,160.90
199.62
816.30
11
Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)
726.24
1,103.47
822.00
1,829.71
1,967.29
4,532.13
12
Extraordinary items (Net of tax expense)
-
-
-
-
-
-
13
Net Profit (+) / Loss (-) for the period (11-12)
726.24
1,103.47
822.00
1,829.71
1,967.29
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
9,518.03
12,609.60
10,856.13
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
N/A
N/A
N/A
30,041.51
27,811.06
28,211.82
17
Debenture Redemption Reserve
N/A
N/A
N/A
314.73
240.97
275.29
18
Earning Per Share (before extraordinary items)
a
Basic
0.39
0.59
0.44
0.98
1.06
2.43
b
Diluted
0.39
0.59
0.44
0.98
1.06
2.43
Earning Per Share (after extraordinary items)
a
Basic
0.39
0.59
0.44
0.98
1.06
2.43
b
Diluted
0.39
0.59
0.44
0.98
1.06
2.43
19
Debt Equity Ratio
N/A
N/A
N/A
0.20
0.27
0.23
20
Debt Service Coverage Ratio (DSCR)
N/A
N/A
N/A
1.71
1.37
1.47
21
Interest Service Coverage Ratio (ISCR)
N/A
N/A
N/A
4.62
3.26
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 30-September-2012
Pending at the beginning of the quarter
-
Received during the quarter
19
Disposed of during the quarter
19
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 October 29, 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 concession period. Had the Company followed the earlier method, amortisation would have been higher by Rs.142.83 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.
(Rs in Lacs)
Particulars
30-Sep-12
31-Mar-12
A
EQUITY AND LIABILITIES
1
Shareholders' fund
(a) Share Capital
18,619.50
18,619.50
(b) Reserves & Surplus
30,041.51
28,211.82
Sub-total-Shareholders' funds
48,661.0
46,831.32
2
Non-current liabilities
(a) Long-term borrowings
5,176.30
7,537.39
(b) Deferred tax liabilities (net)
3,156.52
1,995.62
(c) Other long-term liabilities
301.80
272.18
(d) Long-term provisions
1,439.47
312.98
Sub-total-Non-current liabilities
10,074.09
10,118.17
3
Current liabilities
(a) Trade payables
45.80
17.24
(b) Other current liabilities
6,050.56
3,857.70
(c) Short-term provisions
1,199.73
3,379.03
Sub-total current liabilities
7,296.09
7,253.97
TOTAL- EQUITY AND LIABILITIES
66,031.19
64,203.46
B
ASSETS
1
Non-current assets
(a) Fixed assets
Tangible assets
567.13
558.27
Intangible assets
57,036.83
57,082.61
Capital Work in Progress
12.23
-
(b) Non-current investments
2.55
2.55
(c) Long-term loans and advances
2,563.53
1,947.34
Sub-total-Non-current assets
60,182.27
59,590.77
2
Current assets
(a) Current investments
4,180.91
3,546.90
(b) Inventories
12.35
8.29
(c) Trade receivables
190.00
71.40
(d) Cash and cash equivalents
1,059.55
697.72
(e) Short-term loans and advances
406.11
288.3
Sub-total-current assets
5,848.92
4,612.69
TOTAL- ASSETS
66,031.19
64,203.46
-
-
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)
CEO & Executive Director
Noida
October 29, 2012
This information is provided by RNS
The company news service from the London Stock Exchange
END
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