REG - Noida Toll Bridge Co - 1st Quarter Results <Origin Href="QuoteRef">NOID.NS</Origin>

Noida Toll BridgeAnnouncement

02/09/2016 11:05

RNS Number : 8303I
Noida Toll Bridge Co. Ltd.
02 September 2016
Noida Toll Bridge Company Limited
Regd. Office: Toll Plaza, DND Flyway, Noida 201 301, Uttar Pradesh, India
Quarterly Results to 30 June 2016
The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company's results for the quarter ended June 30, 2016, today.
NTBCL has reported a PBT at Rs. 137.21 million for the quarter as compared to Rs.158.58 million in the previous year corresponding quarter. 
The profit after tax for the quarter is at Rs. 135.83 million as compared to Rs 257.96 million in the previous year corresponding quarter on account of change in useful life of the Intangible Assets.
For further details please contact: 
Noida Toll Bridge Company Limited 
Harish Mathur 
00 91 120 2516380
Cairn Financial Advisers LLP
Sandy Jamieson, Emma Earl 
00 44 207 148 7900
About the Company
NTBCL is a special purpose vehicle promoted by Infrastructure Leasing and Financial Services Limited, a specialist financial institution focusing on the development and financing of infrastructure, to construct and operate the Delhi Noida Toll Bridge on a build, own, operate and transfer basis. The Delhi Noida Toll Bridge is a tolled facility connecting Noida to South Delhi across the Yamuna river. The Company's principal business is operating the bridge and the Company generates revenues mainly through the levy of toll charges on users of the bridge.
 
 Rs in lacs
Sl.No.
Particulars
Quarter ended
Year ended
30.06.2016
31.03.2016
30.06.2015
31.03.2016
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(1)
(2)
(3)
(4)
(5)
(6)
1
Income from operations
3,168.58 
3,169.87 
3,225.97 
12,895.62 
Total Revenue
3,168.58 
3,169.87 
3,225.97 
12,895.62 
2
Total Expenditure
a) O & M Expenses
349.85 
283.92
357.12 
1,338.74 
b) Employee Benefit Expenses
 78.02 
69.69
68.74 
271.76 
c) Legal and Professional Charges
 86.82 
73.23
82.60 
340.73 
d) Rates & Taxes
 134.11 
144.94
97.30 
585.60 
e) Depreciation/Amortisation
 859.95 
779.35
786.53 
3,226.45 
f) Overlay
 132.90 
140.28
132.97 
541.89 
g) Other expenditure
 104.08 
203.70
77.10 
520.61 
Total Expenditure
 
1,745.73 
 1,695.11 
 1,602.36 
 6,825.78 
3
Profit from Operations before Other Income, Finance cost & Exceptional items (1-2)
1,422.85
1,474.76
1,623.61
6,069.84
4
Other Income
68.51
169.87
6.03
281.76
5
Profit from ordinary activities before Finance Cost & Exceptional items (3+4)
1,491.36
1,644.63
1,629.64
6,351.60
6
Finance Cost
 119.27 
122.62 
43.85 
264.70 
7
Profit from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,372.09
1,522.01
1,585.79
6,086.90
8
Exceptional items
 - 
 - 
 - 
 - 
9
Profit from Ordinary Activities before tax (7-8)
1,372.09
1,522.01
1,585.79
6,086.90
10
Tax Expenses
 13.83 
(874.23) 
(993.78)
(3,667.65)
11
Net Profit from Ordinary Activities after tax (9-10)
1,358.26
2,396.24
2,579.57
9,754.55
12
Other Comprehensive Income (Net of tax expense)
 60.38 
(12.49) 
0.63 
4.38 
13
Total Comprehensive Income for the period (11+12)
1,418.64
2,383.75
2,580.20
9,758.93
14
Paid-up equity share capital 
(Face Value Rs 10)
18,619.50 
18,619.50 
18,619.50 
18,619.50 
15
Earning Per Share (before extraordinary items)
a
Basic 
0.73
1.29
1.39
5.24
b
Diluted
0.73
1.29
1.39
5.24
Earning Per Share (after extraordinary items)
a
Basic 
0.73
1.29
1.39
5.24
b
Diluted
0.73
1.29
1.39
5.24
Notes:
1
The Company adopted Indian Accounting Standard ("Ind AS") from April 1, 2016 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34, "Interim Financial Reporting" prescribed under Section 133 of the Companies Act 2013 read with the relevant rules issued thereunder and the other accounting principles generally accepted in India. Financial results for all the periods presented have been prepared in accordance with the recognition and measurement principles of Ind AS 34.
2
Reconciliation of the standalone financial results to those reported under previous Generally Accepted Accounting Principles (GAAP) are summarized as follows;
Rs in Lacs
Particulars
Quarter ended
Quarter ended
Year ended
31.03.2016
30.06.2015
31.03.2016
Profit after tax as reported under previous GAAP
 1,813.57 
 2,262.69 
 8,238.87 
Impact of measuring provision for overlay at Discounted Value
 14.07 
 12.73 
 
52.52 
Reclassification of actuarial (gain)/loss in respect of defined benefit plan to "Other Comprehensive Income"
 (2.48)
 (0.63)
 
4.66 
Impact of deferred tax measurement
 571.08 
 304.78 
 1,458.50 
Profit after tax as reported under Ind-AS
 2,396.24 
 2,579.57 
 9,754.55 
Other Comprehensive Income (Net of Tax)
 (12.49)
 
0.63 
 
4.38 
Total Comprehensive income as reported under Ind-AS
 2,383.75 
 2,580.20 
 9,758.93 
3
The Company had only one business segment and therefore reporting of segment wise information is not applicable.
4
In the previous year, consequent to change in useful life, estimates for reversal of timing difference in respect of depreciation during the tax holiday period got changed, resulting in reversal of deferred tax liability.
5
The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at a meeting held on September 02, 2016. These results have been subjected to Limited Review by Statutory Auditors
6
Previous period figures have been regrouped / reclassified, wherever necessary. 

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