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Report of Indian Institute of Public Administration ... - Ministry of Power

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Rajasthan<br />

FINANCIAL<br />

Financial Performance<br />

6.27<br />

(Rs crore)<br />

Particulars 1995<br />

-96<br />

1996<br />

-97<br />

1997<br />

-98<br />

1998<br />

-99<br />

1999<br />

-00<br />

2001<br />

-02<br />

2002<br />

-03<br />

2003<br />

-04<br />

2004<br />

-05<br />

2092 2513 3118 3034 3587 4501 4665 4772 5269<br />

PBT (Loss) (without<br />

subvention)<br />

(430) (498) (640) (1041) (1678) (1291) (1582) (1754) (2014)<br />

PAT/(Loss) (without<br />

subvention)<br />

(430) (498) (640) (1041) (1678) (1291) (1582) (1754) (2014)<br />

Interest and finance<br />

charges<br />

548.76 636.73 753.48 807.86 994.00 1315.43 1278.99 1305.69 1207.80<br />

Wages and salaries 339.87 382.61 469.70 553.39 628.95 639.88 650.20 688.97 712.11<br />

Equity<br />

Debt outstanding<br />

913.09 1027.59 1774.59 1774.59 1774.59 2137.59 2469.59 2751.59 3099.59<br />

(Including STL*,<br />

excluding State<br />

Govt. loans)<br />

3755 4318 3371 4354 5606 8684 10356 11384 12577<br />

Net worth 799 1051 1945 2154 2299 2491.95 3111.31 3726.53 4464.24<br />

Return on net worth<br />

#<br />

- - - - - - - - -<br />

Govt. subsidy (recd.<br />

during the year)<br />

226 442 40 105 259 264 578 825 1175<br />

APDRP incentive - - - - - - - 138 -<br />

# The companies are required to operate on no-pr<strong>of</strong>it no-loss basis. Since there cannot be any<br />

pr<strong>of</strong>it/loss, hence, question <strong>of</strong> any return does not arise. The revenue gap (income-expenditure), if<br />

any, is treated as subvention receivable from Government <strong>of</strong> Rajasthan.<br />

* ShortTterm Loan<br />

COMMENTS<br />

The losses are rising in the post-restructuring period. The accumulated losses <strong>of</strong> the<br />

earlier four years were Rs 3,857 crore while in the post-restructuring period, the<br />

losses in the first four years have touched Rs 6,641 crore. Inevitably such heavy<br />

losses are bound to adversely affect the net worth. However, the DISCOMs are<br />

claiming that subvention is “expected” from the Government. Hence, according to<br />

them, their net worth has not eroded.<br />

State Allocations to <strong>Power</strong> Sector<br />

Allocation to <strong>Power</strong> Sector as Percentage <strong>of</strong> Total State Plan<br />

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005<br />

-91 -92 -93 -94 -95 -96 -97 -98 -99 -00 01 -02 -03 -04 -05 -06<br />

18 18 19 20 11 11 5 5 6 6 6 26.01 31.14 38.01 29.64 27.14

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