SUBSIDIARY COMPANIES - ITC Ltd

ITC INFOTECH INDIA LIMITED
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2012
Notes For the year ended For the year ended
31st March, 2012 31st March, 2011
(`) (`)
I Revenue from Operations 17 5,63,10,51,222 4,21,39,16,281
II Other Income 18 3,12,76,112 5,02,49,477
Total Revenue 5,66,23,27,334 4,26,41,65,758
III Expenses
Employee Benefits Expense 19 3,73,36,40,650 2,93,58,02,198
Other Expenses 20 1,42,92,99,786 1,11,22,49,756
Depreciation and Amortisation 9 14,46,45,985 12,22,30,455
Total Expenses 5,30,75,86,421 4,17,02,82,409
IV Profit before Tax 35,47,40,913 9,38,83,349
V Tax Expenses 21
Current Tax 8,25,65,345 1,13,21,011
Deferred Tax (1,47,70,543) 79,87,933
6,77,94,802 1,93,08,944
VI Profit after Tax 28,69,46,111 7,45,74,405
Earnings Per Share (Face value ` 10 each)
(Basic and Diluted)
28 3.37 0.88
Significant Accounting Policies
The Notes referred to above form an integral part of the Statement of Profit and Loss.
This is the Statement of Profit and Loss referred to in our Report of even date.
For Lovelock & Lewes
Firm Registration Number: 301056E
Chartered Accountants
1
Sunit Kumar Basu
Partner
Membership Number: 55000
Place : Bangalore
Date : 8th May, 2012
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2012
For the year ended For the year ended
31st March, 2012 31st March, 2011
(`) (`) (`) (`)
(Figures for the previous year have been rearranged to conform
with the revised presentation)
A. NET PROFIT BEFORE TAX
ADJUSTMENTS FOR :
35,47,40,913 9,38,83,349
Depreciation and Amortisation 14,46,45,985 12,22,30,455
Fixed Assets - Loss on Sale / Write off (net) 33,09,836 10,25,906
Unrealised (Gain) / Loss on Exchange 1,18,12,090 (33,46,501)
Provision for Doubtful Loans & Advances 13,32,442 7,38,951
Interest on Loans, Deposits etc (62,32,678) (3,63,60,697)
Provision for Doubtful Debts 55,03,985 —
Liability no longer required written back (87,30,894) (23,56,798)
15,16,40,766 8,19,31,316
OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES
ADJUSTMENTS FOR :
50,63,81,679 17,58,14,665
Trade and Other Receivables (12,50,19,075) (36,99,65,576)
Trade and Other Payables 48,31,36,102 35,81,17,027 (1,44,39,477) (38,44,05,053)
CASH FROM OPERATIONS 86,44,98,706 (20,85,90,388)
Income Tax Paid (1,07,98,353) 5,00,04,984
NET CASH (USED IN) / FROM OPERATING ACTIVITIES 87,52,97,059 (25,85,95,372)
B. CASH FLOW FROM INVESTING ACTIVITIES :
Purchase of Fixed Assets (43,47,00,646) (17,95,55,139)
Interest Received 3,91,26,500 36,67,301
NET CASH (USED IN) / FROM INVESTING ACTIVITIES (39,55,74,146) (17,58,87,838)
C. CASH FLOW FROM FINANCING ACTIVITIES :
Proceeds from Short-Term Borrowings 3,03,85,00,000 2,39,61,00,000
Repayments of Short-Term Borrowings (3,96,10,00,000) (2,01,25,00,000)
NET CASH (USED IN) / FROM FINANCING ACTIVITIES (92,25,00,000) 38,36,00,000
NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS (44,27,77,087) (5,08,83,210)
OPENING CASH AND CASH EQUIVALENTS 63,33,88,608 68,42,71,818
CLOSING CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS COMPRISE :
19,06,11,521 63,33,88,608
Cash and Bank Balances 18,93,51,297 63,26,86,429
Unrealised (Loss)/Gain on Foreign Currency Cash and Cash Equivalents
This is the Cash Flow Statement referred to in our Report of even date.
12,60,224 19,06,11,521 7,02,179 63,33,88,608
For Lovelock & Lewes
Firm Registration Number: 301056E
Chartered Accountants
Sunit Kumar Basu
Partner
Membership Number: 55000
Place : Bangalore
Date : 8th May, 2012
B. Sumant
On behalf of the Board
Managing Director
S. Sivakumar Vice Chairman
R. Batra Chief Financial Officer S. V. Shah Company Secretary
B. Sumant
On behalf of the Board
Managing Director
S. Sivakumar Vice Chairman
R. Batra Chief Financial Officer S. V. Shah Company Secretary
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