2003

2002

(RUPEES  000’s)

CASH FLOW FROM OPERATING ACTIVITIES

Profit before taxation

76,061

96,460

Adjustments for items not involving movement of funds:

Depreciation/amortization

18,176

19,642

Provision for gratuity (net)

(3)

205

Gain on sale of fixed assets

(590)

(40)

Mercury consumed

7,226

5,154

Provision for doubtful debts, advances

and deposits (net of recovery)

763

603

Financial charges

12,871

10,405

Liabilities no longer payable

          -

(1,840)

Deposits and advances written off

6

31

Gain on sale/transfer of investment

          -

(15,888)

Provision for obsolete stores & spares

          -

19,830

114,510

134,562

Decrease/(Increase) in current assets

   Stores and spares

 (63,006)

 (15,592)

   Stock in trade

 (744)

4,027

   Trade debts

 (44,448)

27,350

   Advances, deposits, prepayments and other

   Receivables

5,311

 (19,267)

 (102,887)

 (3,482)

(Decrease)/Increase in current liabilities

   Refundable against oversubscribed amount

   of TFC's

         212,525

          -

   Creditors, accrued and other liabilities

         (21,174)

6,566

         202,974

137,646

Taxes paid

         (35,766)

 (103,101)

Gratuity paid

         (21)

 (25)

Net cash inflow from operating activities

167,187      

34,520

2003

2002

(RUPEES  000’s)

CASH FLOW FROM INVESTING ACTIVITIES

   Additions to fixed assets

(63,727)

(30,590)

   Adjustment for items not involving 

   movement of funds:

      Transfer from capital work in progress

52,621

1,000

      Transfer from leased to owned assets

6,400

17,500

(4,706)

(12,090)

   Additions to capital work in progress

(442,462)

(43,844)

Proceeds from sale of fixed assets

564

40

   Mercury purchases

(9,332)

(8,556)

   Long term investments

(1,280)

9,500

   Long term deposits

          -

1,679

Deferred cost

(3,269)

          -

 Net cash (outflow) from investing activities

(460,485)

(53,271)

CASH FLOW FROM FINANCING ACTIVITIES

   Repayment of debentures

             -

(538)

Issue of Term Finance Certificates

250,000

          -

   Long term loan

408,562

9,497

   Liabilities against assets subject to finance lease

(3,167)

(2,759)

Financial charges paid

(7,098)

(10,773)

Dividend paid

 (37,500)

(37,500)

   Short term running finances

    (46,960)

59,361

Net cash inflow from financing activities

563,837

17,288

Net increase/(decrease) in cash and cash equivalents

270,539

(1,463)

Cash and cash equivalents at the beginning of the year

16,203

17,666

Cash and cash equivalents at the end of the year

11

286,742

  16,203