CONSOLIDATED 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	22	253	1,21,618.42		1,44,298.36
Less: Excise duty			4,466.83		4,794.63
			1,17,151.59		1,39,503.73
(b) Other income	23	253	3,925.66		796.18
Total Revenue				1,21,077.25		1,40,299.91
(2) Expenses
(a) Raw materials consumed			32,188.30		40,741.04
(b) Purchase of finished, semi-finished and other products			10,174.01		13,804.22
(c) Changes in inventories of finished goods, work-in- progress and stock-in-trade			2,453.82		1,122.18
(d) Employee benefits expense	24	254	19,966.80		21,407.64
(e) Depreciation and amortisation expense	25	254	5,081.84		5,943.60
(f) Finance costs	26	254	4,128.64		4,847.75
(g )Other expenses	27	255	45,905.32		51,061.09
				1,19,898.73		1,38,927.52
(h) Less: Expenditure (other than interest) transferred to capital and other accounts			1,122.31		1,168.19
Total Expenses				1,18,776.42		1,37,759.33
(3) Profit before Exceptional Items and Tax				2,300.83		2,540.58
(4) Exceptional Items	28	255
(a) Profit on sale of non-current investments			179.95		1,315.34
(b) Profit on sale of non-current assets			–		1,146.86
(c) Provision for diminution in the value of investments/ doubtful advances			(129.10)		(338.30)
(d) Provision / Reversal for impairment of non-current assets			(9,720.59)		(6,052.57)
(e) Provision for demands and claims			(880.05)		–
(f) Employee Seperation Compensation			(556.25)		–
(g) Restructuring and other provisions			7,131.17		–
				(3,974.87)		(3,928.67)
(5) Profit before Tax				(1,674.04)		(1,388.09)
(6) Tax Expense
(a) Current tax			1,631.14		2,214.71
(b) MAT credit			(152.56)		(117.32)
(c) Deferred tax			26.38		470.02
				1,504.96		2,567.41
(7) Profit/(Loss) after tax				(3,179.00)		(3,955.50)
(8) Minority Interest				108.94		13.29
(9) Share of Profit of Associates				20.74		16.69
(10) Profit/(Loss) after Tax, Minority Interest and Share of Profit of Associates				(3,049.32)		(3,925.52)
(11) Nominal Value per Share (₹)				10.00		10.00
(12) Basic Earnings per Share (₹)	29	256		(33.23)		(42.24)
(13) Diluted Earnings per Share (₹)	29	256		(33.23)		(42.24)
Notes to Balance Sheet and Statement of Profit and Loss	1-47	224

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)