Equity Analysis

Particulars(INCOME)	Dec 1997 ( Cr)	Dec 1996 ( Cr)	Dec 1995 ( Cr)	Dec 1994 ( Cr)	Dec 1993 ( Cr)	Dec 1992 ( Cr)
Operating Income	222.45	216.21	185.25	140.48	94.70	72.45
Other Income	0.80	2.27	3.99	1.26	0.02	0.23
Total Income	223.25	218.48	189.24	141.74	94.72	72.68
EXPENDITURE :
Operating Expenses & Administrative Expenses	7.88	5.74	3.51	3.11	1.85	1.75
Miscellaneous Expenses	19.15	12.42	8.35	5.40	2.93	3.06
Interest	116.49	110.42	87.45	60.80	41.18	29.63
Less : Pre-operative Expenses Capitalised	0.00	0.00	0.00	0.00	0.00	0.00
Employee Cost	3.67	2.78	2.58	1.94	1.16	0.86
Total Expenditure	147.19	131.36	101.89	71.25	47.12	35.30
Gross Profit	76.06	87.12	87.35	70.49	47.60	37.38
Depreciation	54.98	61.21	55.04	40.96	29.85	22.46
Profit Before Tax	21.08	25.91	32.31	29.53	17.75	14.92
Tax	3.20	4.15	0.57	0.33	0.00	1.30
Fringe Benefit tax	0.00	0.00	0.00	0.00	0.00	0.00
Deferred Tax	0.00	0.00	0.00	0.00	0.00	0.00
Reported Net Profit	17.88	21.76	31.74	29.20	17.75	13.62
Extraordinary Items	0.00	0.00	-2.42	-1.73	-1.92	-1.45
Adjusted Net Profit	17.88	21.76	34.16	30.93	19.67	15.07
Adjustment below Net Profit	0.00	0.00	0.00	0.00	0.01	6.10
P & L Balance brought forward	6.50	3.25	0.00	0.00	0.00	0.00
Appropriations	23.18	18.51	28.49	29.20	17.76	19.72
P & L Balance carried down	1.20	6.50	3.25	0.00	0.00	0.00
Dividend	4.19	4.19	5.77	4.48	3.26	2.93
Preference Dividend	2.17	1.37	0.55	0.00	0.00	0.00
Equity Dividend %	24.00	24.00	33.00	27.00	36.00	33.00
Dividend Per Share(Rs)	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Per Share-Unit Curr	8.39	11.67	17.85	16.71	19.13	15.34
Earnings Per Share(Adj)-Unit Curr	8.39	11.67	17.85	16.71	19.13	15.34
Book Value-Unit Curr	98.26	96.79	87.52	72.97	71.37	55.44
Book Value(Adj)-Unit Curr	98.26	96.79	87.52	72.97	71.37	55.44