bharat line ltd Management discussions

THE BHARAT LINE LIMITED ANNUAL REPORT 2007-2008 MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL RESULTS Current year Previous year 31.03.2008 31.03.2007 Rs. Rs. Income 1,60,97,868 1,43,63,908 Less: Expenditure 99,92,293 80,10,113 61,05,575 63,53,795 Add: Opening Balance 6,99,788 8,409 68,05,363 63,62,204 Less: Provision for Depreciation 5,20,786 5,38,346 62,84,577 58,23,858 Less: Provision for Taxation 31,00,000 27,50,000 Less: F.B.T 43,000 50,000 Less: Provision for deferred tax -5,708 -8,730 31,47,285 30,32,588 Less: Transfer to General Reserve 2,77,223 2,72,754 Less: Income tax arrears of earlier year 3,75,051 3,05,046 24,95,011 24,54,788 Less: Proposed Dividend 20,00,000 15,00,000 4,95,011 9,54,788 Less: Dividend Corporate Tax 3,39,900 2,55,000 Balance Carried Forward to Next Accounting 1,55,111 6,99,788 year PERFORMANCE APPRAISAL: Consequent upon the amendment in Rent control Act, & after filing the cases in Small Causes Court the Company has given the office, premises on lease basis to certain parties on stipulated terms and conditions. Accordingly, the Company has received the compensation and service charges being Income from premises given on lease. The Company had to incur property expenses, for repairing, renovating & reconditioning & legal & professional charges for the office premises with an intent to give the same on lease basis