Thus the PBT after EO was up by 23% to Rs 106.16 crore. Provision for tax was expense of Rs 42.81 crore, compared to Rs 21.88 crore.  Effective tax rate was 40.33% compared to 25.43%. Profit after tax fell 1% to Rs 63.35 crore.  

a) The Company is considering the disinvestment of its investment in its wholly owned subsidiary namely M/s PTC Energy Limited (PEL). While the matter is still in preliminary stage of evaluation and subject to various approvals and clearances, the current market conditions indicate a need for impairment provision against the carrying value of investment in PEL. Therefore, the Company has created a provision of T 5000 Lakhs on its investment in PEL. b) Provision related to capital advance of Z 1026 Lakhs

Yearly performance

Standalone net sales (including other operating income) has increased 3% to Rs 16,963.29 crore.  Operating profit margin has jumped from 2.6% to 3.7%, leading to 44% rise in operating profit to Rs 627.69 crore.  Purchase of finished goods cost fell from 96.56% to 94.63%.   Employee cost increased from 0.24% to 0.27%.   Other expenses rose from 0.56% to 1.40%.   Other direct service cost rose from 0.15% to 1.07%.   Other income fell 37% to Rs 28.74 crore.  Provision for interest fell 49% to Rs 27.81 crore.  Provision for depreciation down 2% to Rs 2.79 crore.  Profit before tax grew 48% to Rs 625.83 crore. EO was an expense of Rs 60.26 crore a rise from an expense of Rs 1.13 crore in the corresponding previous period. Exceptional items for the period include Rs 50 crore towards impairment of its investment in PTC Energy, a WOS of the company and RS 10.26 crore towards provision related to capital advances. Thus the PBT after EO was up 34% to Rs 565.57 crore.  Provision for tax was expense of Rs 155.32 crore, compared to Rs 102.42 crore.  Effective tax rate was 27.46% compared to 24.24%. Profit after tax rose 28% to Rs 410.25 crore.  

Other developments

The company has recognized surcharge income of Rs255.02 crore during the quarter (for the corresponding quarter ended March 31, 2020, Rs 53.09 crore) from sundry debtors on amounts overdue on sale of power which has been included in "Other Operating Revenue". Correspondingly surcharge expense of Rs 141.35 crore during the quarter (for the corresponding quarter ended March 31, 2020, Rs 7.96crore) paid / payable to Sundry Creditors has been included in "Operating expenses".

The Board of Directors has recommended final dividend @ 55% of the face value of Rs 10 per share (Rs 5.50 per equity share) for the FY 2020-21. In November, 2020, the Company has paid an interim dividend @ 20 % of the face value ofRs 10 per share (Rs 2.00 per equity share) for the FY 2020-21. Total dividend (including interim dividend) is @ 75 % of the face value of Rs 10 per share i.e. Rs 7.50 per equity share.

Exceptional items a) The Company is considering the disinvestment of its investment in its wholly owned subsidiary namely M/s PTC Energy Limited (PEL). While the matter is still in preliminary stage of evaluation and subject to various approvals and clearances, the current market conditions indicate a need for impairment provision against the carrying value of investment in PEL. Therefore, the Company has created a provision of Rs 5000 Lakhs on its investment in PEL. b) Provision related to capital advance of Rs 1026 Lakhs

The Company offered to sell its shares in Chenab Valley Power Projects Private Limited to NHPC Ltd. at a value ofRs 419 Lakhs. NHPC Ltd. has paid the entire consideration ofRs 419 Lakhs on 25.05.2021 and necessary formalities are being completed for transferring the shares.

Equity capital stood at Rs 296.01 crore as of 31 March 2021 to Rs 296.01 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 16.22% as of 31 March 2021, compared to 16.22% as of 31 March 2020.