STATEMENT OF PROFIT AND LOSS for the year ended 31st March, 2016

(₹ crore)

	Note	Page	Year ended 31st March, 2016		Year ended 31st March, 2015
(1) Revenue
(a) Revenue from operations	21	182	42686.29		46,577.26
Less: Excise duty			4475.95		4,792.26
			38210.34		41,785.00
(b) Other income	22	183	3890.70		582.78
Total Revenue				42,101.04		42,367.78
(2) Expenses
(a) Raw materials consumed	23	183	9700.01		11,678.60
(b) Purchase of finished, semi-finished and other products	24	184	991.54		688.32
(c) Changes in inventories of finished goods, work-in- progress and stock-in-trade	25	184	142.97		(715.94)
(d) Employee benefits expense	26	185	4324.9		4,601.92
(e) Depreciation and amortisation expense	27	185	1933.11		1,997.59
(f) Finance costs	28	186	1460.27		1,975.95
(g) Other expenses	29	186	16438.06		16,109.99
			34990.86		36,336.43
(h) Less: Expenditure (other than interest) transferred to capital and other accounts			598.89		586.69
Total Expenses				34,391.97		35,749.74
(3) Profit before Exceptional Items and Tax				7,709.07		6,618.04
(4) Exceptional Items	30	187
(a) Profit on sale of non-current investments			104.29		806.10
(b) Profit on sale of non-current assets			-		1,146.86
(c) Provision for diminution in the value of investments/ doubtful advances			(199.03)		(198.40)
(d) Provision / Reversal for impairment of non-current assets			(51.51)		136.29
(e) Provision for demands and claims			(880.05)		–
(f) Employee Seperation Compensation			(556.25)		–
				(1,582.55)		1,890.85
(5) Profit before Tax				6,126.52		8,508.89
(6) Tax Expense
(a) Current tax			1433.06		1,908.60
(b) MAT credit			(152.17)		(117.21)
(c) Deferred tax			(55.32)		278.38
				1,225.57		2,069.77
(7) Profit after Tax				4,900.95		6,439.12
(8) Nominal Value per Share (₹)				10.00		10.00
(9) Basic Earnings per Share (₹)	31	188		48.67		64.49
(10) Diluted Earnings per Share (₹)	31	188		48.67		64.49
Notes to Balance Sheet and Statement of Profit and Loss	1-46	158

In terms of our report attached	For and on behalf of the Board of Directors
For DELOITTE HASKINS & SELLS LLP Chartered Accountants	sd/- CYRUS P. MISTRY Chairman (DIN: 00010178)	sd/- NUSLI N. WADIA Director (DIN: 00015731)	sd/- ISHAAT HUSSAIN Director (DIN: 00027891)	sd/- SUBODH BHARGAVA Director (DIN: 00035672)	sd/- JACOBUS SCHRAVEN Director (DIN: 01462126)	sd/- D. K. MEHROTRA Director (DIN: 00142711)
sd/- N. VENKATRAM Partner Mumbai, May 25, 2016	sd/- O. P. BHATT Director (DIN: 00548091)	sd/- ANDREW ROBB Director (DIN: 01911023)	sd/- KOUSHIK CHATTERJEE Group Executive Director Finance & Corporate) (DIN: 00004989)	sd/- T. V. NARENDRAN Managing Director (DIN: 03083605)	sd/- PARVATHEESAM K. Company Secretary (ACS: 15921)