Moderator: Good afternoon Ladies and Gentlemen - Ntpc

2 of 20All India performance was 77.20% as against 75.30% for the corresponding period i.e.nine month for the fiscal year 2006-07. Although the PLF of coal stations of NTPCproject has improved by 2.09% for the quarter and by 3.03% for the 9 months periodending 31 st December 2007 as compared to corresponding periods of previous year,there is a reduction in the PLF of gas stations. The reduction in PLF of gas station isattributed to low demand for generation schedules based on liquid fuel for 9 months.Overall generation was, however, better compared to the last year as a result ofimproved PLF of coal based stations as well as due to addition of new generationcapacities. For the third quarter, the generation in coal stations has grown by 6.16% ascompared to 5.6% of national average over the corresponding quarter.The generation and sales data are as follows:Gross generation during the quarter ending December 2007 was 50.734 billion units asagainst 49.301 billion units in the corresponding period. Commercial generation was50.734 billion units in comparison to 48.812 billion units in the corresponding period. Sofar as ESO is concerned during the quarter it was 47.7 billion units as against 45.876billion units in the corresponding period. During 9 months period the company hasgenerated 147.296 billion units as against 137.015 billion units registering an increase of7.5%. So far as energy sent out is concerned, it was 137.628 billion units as against127.840 billion units in the corresponding period thus registering an increase of 7.66%.I would like to go through the financial performance. As you may be aware sales hasgrown by 9.44% on quarter-to-quarter basis. Other income has reduced by 2.89% andprofit after tax has gone down by 15.37%, it is because of the one off items which I willbe discussing subsequently. Similarly, during 9 months period our sales has grown by10.79%. Other income has grown by 6.43% whereas profit after tax has grown by18.43% as compared to corresponding period in the previous year.Now coming on to the adjusted profit, if we take out one off items from both the quartersand 9 months, profit after tax has gone up by about 14% during both the periods.Now the items:First item is the pervious year sales. In quarter ending December 2007, we hadrecorded additional sales of Rs.1.124 billion. This is on account of ATE and CERCorders. In the corresponding period it was Rs.1.152 billion. In this quarter, ForeignExchange Rate Variation was Rs.422 million expense, whereas in quarter endingDecember 2006 it was Rs.1.567 billion gain. Prior period adjustment was Rs -24 millionin this quarter and in the corresponding quarter it was Rs -4 million.During this quarter, we have made a provision for wage revision, pension and additionalincentive which was not there in the corresponding quarter of the previous year. Onaccount of wage revision and pension, provision of Rs.1.867 billion has been made.Additional incentive has been provided as Rs 351 million. Because of income taxassessment for the pervious period, there is an additional demand or additional taxamounting to Rs 607 million. Further, in the corresponding quarter of previous year, wehad received an interest from income tax department which was accounted for as anincome amounted to Rs.896 million. If we add all these items for the quarter endingDecember 2007, there will be an adjustment in plus of Rs.2.1 billion whereas in quarterending December 2006 it will be minus Rs.3.619 billion resulting in adjusted profit of Rs.