TAMILNADU PETROPRODUCTS LIMITED
Regd. Office:Manali Express Highway, Manali, Chennai - 600 068
UNAUDITED FINANCIAL RESULTS (STAND-ALONE)
FOR THE QUARTER / NINE MONTHS ENDED 31ST DECEMBER 2008
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| Rs. in Lacs |
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Quarter
ended
31.12.2008
(Unaudited)
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Corresponding
Quarte
ended
31.12.2007
(Unaudited)
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Nine Months
ended
31.12.2008(Unaudited)
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Corresponding Nine Months Ended 31.12.2007(Unaudited) |
Year Ended 31.03.2008(Audited) |
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| 1 |
Net Sales/Income from Operations |
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| 2 |
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| 3 |
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| 4 |
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| a.(Increase)/Decrease in stock in trade and work in progress |
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| b. Consumption of raw materials |
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| c. Purchase of traded goods |
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| 5 |
| Profit/ (Loss) from Operations before Other Income & Interest (3-4) |
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| 6 |
Other Income |
35 |
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1490 |
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| 7 |
| Profit/ (Loss) before Interest (5+6) |
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| 8 |
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| 9 |
| Profit/(Loss) after interest but before tax (7-8) |
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| 10 |
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3 |
3 |
9 |
10 |
15 |
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| 11 |
| Net Profit / (Loss) after tax (9-10) |
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| 12 |
| Paid up equity share capital |
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| (Face value per share of Rs.10/- each) |
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| 13 |
| Reserves (excluding revaluation reserve) |
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25,442 |
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| 14 |
| Earnings per share in Rs. |
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| 15 |
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| - Percentage of Shareholding |
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Notes : |
| 1 |
The Company operates in only one segment - Industrial Intermediate Chemicals. |
| 2 |
Previous year's figures have been regrouped wherever necessary. |
| 3 |
There were no complaints at the beginning of the quarter. During the quarter, 9 investor complaints were received, all of which were disposed of by the Company. |
| 4 |
The Auditors' report on the annual accounts of the Company for the year ended 31st March 2008 contains the following comment : |
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" The Company has, during the period 1995-2003, invested Rs. 2764.50 lacs in SPIC Electric Power Corporation (Private) Limited and given advances against equity amounting to Rs.33.91 lacs during the financial years 2006 to 2008 for which no provision has been considered necessary by the management. In view of the considerable delay in the implementation of the project, we are unable to express an opinion on the provision, if any, required in respect of the said investment and advances against equity." |
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Board's comment : Pursuant to the Memorandum of Understanding entered into with an investor company during the previous year for implementation of the power project, the investor company has been meeting the day to day expenses of SPIC Electric Power Corporation (Private) Limited (SEPC) from August 2007. The Company is in the process of entering into a Shareholders' Agreement . Due to non-payment of lease rentals, the Tuticorin Port Trust sought to repossess the land allotted to SEPC. SEPC approached the High Court of Madras for appointment of an arbitrator to resolve the dispute. A sole arbitrator was appointed in July 2008 and arbitration proceedings are in progress. In view of these developments, no provision for permanent diminution in the value of investment is considered necessary at this stage.. |
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The Statutory auditors of the Company have carried out a limited review of the unaudited financial results for the quarter/nine months ended 31st December, 2008. |
The above unaudited financial results were approved by the Board of Directors at its meeting held on 28th January 2009. |
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Place : Chennai |
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V. RAMANI |
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Date : 28th January, 2009 |
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DIRECTOR & CHIEF FINANCIAL OFFICER |
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