Unaudited Financial Results (Provisional)
For the Three Months ended 30th June, 2001
Rs. in lakhs
Sr.
No.
Particulars
Three months
ended
30.06.2001
Three months
ended
30.06.2000
Year ended
31.03.2001
(Audited)
1. Net Sales / Income from Operations 25522 22605 85372
2. Other Income 212 212 1409
3. Total Expenditure      
  a) (Increase) / Decrease in stock in trade 1497 1755 (14)
  b) Consumption of raw materials / traded goods / cost of jobs, manufacture and services 15544 12430 52994
  c) Staff Cost 2432 2627 10030
  d) Excise Duty 2401 2340 8916
  e) Other expenditure 2593 2287 10694
  Total 24467 21439 82620
4. Financial Items 259 453 963
5. Depreciation 443 367 1479
6. Profit before tax and Extraordinary Expenses ( Net ) 565 558 1719
7. Extraordinary Expenses ( Net ) - Note 2 385 456 1147
8. Profit before Taxation 180 102 572
9. Provision for Taxation - Current 11 30 14
10. Provision for Taxation - Deferred - Note 3 (8) - -
11. Profit after Tax 177 72 558
12. Paid-up equity share capital 3305 3305 3305
13. Reserves excluding revaluation reserves - - 12202
14. Basic and Diluted Earning per share (Rs) 0.53 0.22 1.69
15. Aggregate of Non-Promoter Shareholdings      
  - Number of shares 26,457,560   26,457,560
  - Percentage of shareholding 79.96%   79.96%

Notes :

  1. Earnings per share for the three months ended 30th June, 2001 and 30th June, 2000 are for the respective quarters (not annualised).
  2. Extraordinary Expenses (Net) for the quarter ended 30th June, 2001 comprise amortisation of VRS expenses - Rs.709 lakhs (quarter ended 30th June, 2000 : Rs.456 lakhs), provision for loss of a subsidiary company - Rs.23 lakhs (quarter ended 30th June, 2000 : Nil), profit on sale of plant and machinery of an undertaking - Rs.94 lakhs (quarter ended 30th June, 2000 : Nil), reversal of excess provision for HMP in respect of future salary payable - Rs.23 lakhs (quarter ended 30th June, 2000 : Nil) and profit on sale of property/compensation on surrender of tenancy rights - Rs.230 lakhs (quarter ended 30th June, 2000 : Nil).
  3. Accounting Standard 22 relating to 'Accounting for Taxes on Income' is mandatory effective 1st April, 2001. In accordance with the requirements of this standard, Tax effect of timing difference arising during the quarter of Rs.8 lakhs has been accounted. Net deferred tax asset pertaining to the period prior to 1st April, 2001 amounting to Rs.3329 lakhs has been added to the Reserves as at 1st April, 2001 and the reserves as on 1st April, 2001 have increased to Rs.15531 lakhs.
  4. Voltas International Ltd. (VIL) a wholly owned subsidiary of the Company is proposed to be amalgamated with the Company effective 1st April, 2001. Pending Bombay High Court's approval for the amalgamation, the figures of VIL have not been included in the first quarter results above.
  5. Figures in the corresponding period last year have been regrouped for making them comparable.
  6. The above results have been taken on record by the Board of Directors on 31st July, 2001.
30th July, 2002
A TATA ENTERPRISE
                 Sd/-
                A. SONI
                 Managing Director