Actual Profit & Loss Account Atlas Power Limited

Comparative for six months For the period from July 2011 to February 2012

Actual for the months ACTUAL

Particulars
TOTAL
July 11 Aug 11 Sept 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12
Revenue
Energy 1,867,706 2,047,857 1,426,928 1,134,433 826,505 718,627 1,260,968 870,974 2,157,058 12,311,053
Capacity 413,620 413,527 400,071 409,772 396,520 409,737 396,563 370,978 396,589 3,607,377
TOTAL TURNOVER 2,281,325 2,461,383 1,826,999 1,544,205 1,223,024 1,128,364 1,657,530 1,241,952 2,553,647 15,918,430

Operating Costs
Fuel Consumed 1,767,928 1,940,702 1,353,155 1,080,658 793,906 670,949 1,181,923 816,579 2,028,823 11,634,621
Operation & Maintenance - Variable 30,718 33,078 23,122 17,476 12,115 35,713 60,892 40,224 97,294 350,633
Operation & Maintenance - Fixed 23,574 24,469 24,154 24,030 23,984 24,026 24,344 24,447 24,437 217,465
Electricity Imported from WAPDA - - - 1,544 - - 2,704 1,185 257 5,690
Insurance 20,135 20,135 19,486 20,135 19,486 19,017 17,956 16,798 17,956 171,104
Depreciation 66,475 66,492 64,347 66,492 64,343 66,488 66,498 62,207 66,498 589,838
Agency and Project Monitoring Fee 165 165 160 165 160 (187) - - - 628
Power Generation Licensing Expenditure 174 174 168 174 168 174 174 162 174 1,541
Exchange Gain/(loss) - 57 (24) 37 - - - - 69
TOTAL OPERATING COST 1,909,168 2,085,271 1,484,567 1,210,710 914,161 816,180 1,354,490 961,602 2,235,438 12,971,589

GROSS PROFIT 372,157 376,112 342,431 333,495 308,863 312,184 303,040 280,350 318,209 2,946,842

General and Administration Expenses

Salaries and Benefits 5,962 5,789 5,665 5,753 5,786 5,723 5,721 6,019 5,081 51,499
Travelling, Conveyance and Entertainment 544 563 494 1,271 336 294 609 426 595 5,132
Printing and Stationery 6 127 6 184 126 70 68 51 185 822
Postage and Telephone 132 118 118 137 155 84 73 74 61 953
Internet Charges 489 78 101 177 78 1,161 450 78 55 2,667
Vehicle Running and Maintenance 352 677 233 455 364 371 257 275 433 3,417
Newspapers and Periodicals 3 4 6 3 4 7 12 8 15 61
Membership Fee 43 25 1,062 19 20 80 26 60 23 1,356
Auditors Remuneration 189 100 100 170 100 100 100 130 100 1,089
Legal and Professional Charges 2,577 117 167 213 2,537 3,698 714 156 297 10,476
Repairs and Maintenance 94 111 82 217 95 66 130 19 56 870
Depreciation 588 666 600 628 603 623 623 440 625 5,396
Insurance 213 219 228 387 228 665 235 220 235 2,631
Donation 30 50 40 50 22 50 40 13,698 51 14,031
Others 10 356 128 72 127 258 16 216 270 1,454
TOTAL ADMINISTRATIVE COST 11,231 8,999 9,031 9,737 10,580 13,251 9,073 21,870 8,082 101,855

Finance Cost
Markup on Long Term Finance 177,270 183,179 174,286 174,720 169,084 171,655 161,313 147,984 158,546 1,518,037
Markup on Short Term Loans - Banks 69,139 76,280 93,617 82,634 86,845 93,287 88,218 71,896 71,363 733,278
Delayed payment charges (64,041) (72,211) (86,639) (100,279) (114,793) (126,955) (127,992) (109,096) (70,356) (872,363)
Markup on Short Term Loans - SIL 6,517 9,974 14,543 12,601 12,451 14,116 13,726 12,678 3,688 100,291
Markup on LD charges 5,439 5,424 5,249 5,424 5,249 5,439 5,424 5,074 5,424 48,144
Guarantee Commission 130 - - - - - - - 130
Bank Charges 3 5 3,778 892 525 8 929 25 6,167
TOTAL FINANCIAL COST 194,456 202,651 204,833 175,992 159,361 157,550 141,617 128,536 168,689 1,533,685

PROFIT FOR THE MONTH 166,470 164,463 128,567 147,766 138,922 141,383 152,350 129,944 141,437 1,311,302
Actual Profit & Loss Account Atlas Powe
Comparative for six months For the period from July 2011

Actual for the months

Particulars
July 11 Aug 11 Sept 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12
Revenue
Energy 1,867,706 2,047,857 1,426,928 1,134,433 826,505 718,627 1,260,968 870,974 2,157,058
Capacity 413,620 413,527 400,071 409,772 396,520 409,737 396,563 370,978 396,589
TOTAL TURNOVER 2,281,325 2,461,383 1,826,999 1,544,205 1,223,024 1,128,364 1,657,530 1,241,952 2,553,647

Operating Costs
Fuel Consumed 1,767,928 1,940,702 1,353,155 1,080,658 793,906 670,949 1,181,923 816,579 2,028,823
Operation & Maintenance - Variable 30,718 33,078 23,122 17,476 12,115 35,713 60,892 40,224 97,294
Operation & Maintenance - Fixed 23,574 24,469 24,154 24,030 23,984 24,026 24,344 24,447 24,437
Electricity Imported from WAPDA - - - 1,544 - - 2,704 1,185 257
Insurance 20,135 20,135 19,486 20,135 19,486 19,017 17,956 16,798 17,956
Depreciation 66,475 66,492 64,347 66,492 64,343 66,488 66,498 62,207 66,498
Agency and Project Monitoring Fee 165 165 160 165 160 (187) - - -
Power Generation Licensing Expenditure 174 174 168 174 168 174 174 162 174
Exchange Gain/(loss) - 57 (24) 37 - - - -
TOTAL OPERATING COST 1,909,168 2,085,271 1,484,567 1,210,710 914,161 816,180 1,354,490 961,602 2,235,438

GROSS PROFIT 372,157 376,112 342,431 333,495 308,863 312,184 303,040 280,350 318,209

General and Administration Expenses

Salaries and Benefits 6,556,358 6,363,857 6,227,974 6,324,224 6,363,857 6,290,253 6,290,253 6,618,637 5,588,191 6,416,700 6,190,228
8.69% 8.43% 8.25% 8.38% 8.43% 8.33% 8.33% 8.77% 7.40% 8.50% 8.20%
Travelling, Conveyance and Entertainment 575,033 594,544 521,378 1,342,466 354,992 310,550 642,780 449,295 628,146 614,236 592,557
7.96% 8.23% 7.22% 18.58% 4.91% 4.30% 8.90% 6.22% 8.69% 8.50% 8.20%
Printing and Stationery 65,507 66,754 75,918 114,130 126,014 69,953 67,898 51,211 184,541 93,161 89,873
0.50% 11.57% 0.54% 16.80% 11.50% 6.38% 6.20% 4.67% 16.84% 8.50% 8.20%
Postage and Telephone 174,281 155,986 156,624 181,370 204,862 111,588 96,082 98,256 80,264 142,716 137,679
10.38% 9.29% 9.33% 10.80% 12.20% 6.65% 5.72% 5.85% 4.78% 8.50% 8.20%
Internet Charges 735,316 65,162 84,576 148,176 65,162 971,845 208,531 65,162 45,970 313,998 95,500
13.74% 2.19% 2.84% 4.98% 2.19% 32.66% 12.65% 2.19% 1.55% 8.50% 8.20%
Vehicle Running and Maintenance 453,103 871,893 300,456 585,515 468,940 477,738 330,369 354,124 556,921 498,560 480,964
7.73% 14.87% 5.12% 9.98% 7.99% 8.15% 5.63% 6.04% 9.50% 8.50% 8.20%
Newspapers and Periodicals 2,674 4,284 6,486 2,578 3,509 6,898 11,690 7,854 14,539 6,857 6,615
3.32% 5.31% 8.04% 3.20% 4.35% 8.55% 14.49% 9.74% 18.02% 8.50% 8.20%
Membership Fee 46,332 26,707 1,155,046 230,448 21,248 86,466 28,035 65,809 24,789 167,227 71,000
2.36% 1.36% 58.71% 1.07% 1.08% 4.40% 1.42% 3.35% 1.26% 8.50% 8.20%
Legal and Professional Charges 1,346,850 61,320 87,053 111,690 1,326,045 1,932,675 373,395 81,578 154,943 620,500 598,816
18.45% 0.84% 1.19% 1.53% 18.17% 26.47% 5.11% 1.12% 2.12% 8.50% 8.20%
Repairs and Maintenance 197,830 233,052 171,732 454,242 198,560 138,700 272,837 257,703 118,442 206,833 69,500
8.13% 9.58% 7.06% 18.67% 8.16% 5.70% 11.21% 1.63% 4.87% 8.50% 8.20%
Others 36,082 298,900 188,521 106,110 186,813 320,250 23,699 284,595 365,085 117,425 103,121
1.69% 14.00% 8.83% 4.97% 8.75% 15.00% 1.11% 13.33% 17.10% 5.50% 4.83%
TOTAL ADMINISTRATIVE COST 10,190,359 8,743,446 8,976,695 9,602,137 9,320,935 10,718,308 8,346,530 8,335,016 7,762,794

Finance Cost
Markup on Long Term Finance 177,270 183,179 174,286 174,720 169,084 171,655 161,313 147,984 158,546
Markup on Short Term Loans - Banks 69,139 76,280 93,617 82,634 86,845 93,287 88,218 71,896 71,363 876,833
Delayed payment charges (64,041) (72,211) (86,639) (100,279) (114,793) (126,955) (127,992) (109,096) (70,356)
Markup on Short Term Loans - SIL 6,517 9,974 14,543 12,601 12,451 14,116 13,726 12,678 3,688
Markup on LD charges 5,439 5,424 5,249 5,424 5,249 5,439 5,424 5,074 5,424
Guarantee Commission 130 - - - - - - -
Bank Charges 3 5 3,778 892 525 8 929 25
TOTAL FINANCIAL COST 194,456 202,651 204,833 175,992 159,361 157,550 141,617 128,536 168,689

PROFIT FOR THE MONTH (10,012,658) (8,569,984) (8,839,097) (9,444,634) (9,171,433) (10,563,674) (8,185,107) (8,183,202) (7,613,274)
 Atlas Power Limited
For the period from July 2011 to February 2012

ACTUAL
TOTAL

12,311,053
3,607,377
15,918,430

11,634,621
350,633
217,465
5,690
171,104
589,838
628
1,541
69
12,971,589

2,946,842

6,260,056 75,490,588
8.45%
600,326 7,226,303
8.45%
91,051 1,096,011
8.45%
139,301 1,679,009
8.45%
176,016 2,975,414
8.45%
486,829 5,865,412
8.45%
6,689 80,673
8.45%
44,268 1,967,375
8.45%
605,135 7,300,000
8.45%
113,901 2,433,332
8.45%
104,398 2,135,000
4.89%
108,249,116

493,400 1,518,037
390,234 733,278
(103,166) (872,363)
100,291
48,144
130
6,167
1,533,685

(106,835,960)