Gmr Power And Urban Infra Limited has informed the Exchange about Investor Presentation

August 09, 2023

National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400051 Symbol: GMRP&UI

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001 Scrip: 543490

Dear Sir/Madam,

Sub: Investor Presentation

Ref: Disclosure under Securities and Exchange Board of India (Listing

Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, please find enclosed herewith the Investor Presentation on the financial results for the quarter ended June 30, 2023.

The presentation is also being uploaded on the Company's website www.gmrpui.com

Request you to please take the same on record.

Thanking you,

for GMR Power and Urban Infra Limited

Vimal Prakash Company Secretary & Compliance Officer

Encl: As above

GMR Power & Urban Infra Limited

Corporate Office: New Udaan Bhawan, Opp. Terminal 3, Indira Gandhi International Airport, New Delhi - 110 037 Registered Office: Plot No. C-31, G Block, 701, 7th Floor, Naman Centre, Bandra Kurla Complex (Opp. Dena Bank), Bandra (East), Mumbai - 400 051

CIN L45400MH2019PLC325541 T +91 11 42532600 F +91 11 47197181 E gpuil.cs@gmrgroup.in W www.gmrpui.com

0

DISCLAIMER

All statements, graphics, data, tables, charts, logos, names, figures and all other information (“Contents”) contained in this document (“Material”) is prepared by GMR Power and Urban Infra Limited (“Company”) solely for the purpose of this Material and not otherwise. This Material is prepared as on the date mentioned herein which is solely intended for reporting the developments of the Company to the investors of equity shares in the Company as on such date, the Contents of which are subject to change without any prior notice. The Material is based upon information that we consider reliable, but we do not represent that it is accurate or complete.

Neither the Company, its subsidiaries and associate companies (“GMR Group”), nor any director, member, manager, officer, advisor, auditor and other persons (“Representatives”) of the Company or the GMR Group provide any representation or warranties as to the correctness, accuracy or completeness of the Contents and this Material. the Company to provide a complete or comprehensive analysis or prospects of the financial or other information within the Contents and no reliance should be placed on the fairness on the same as this Material has not been independently verified by any person.

the intention of

is not

It

NONE OF THE COMPANY, THE GMR GROUP AND THE REPRESENTATIVES OF THE COMPANY AND THE GMR GROUP ACCEPT ANY LIABILITY WHATSOEVER FROM ANY LOSS OR DAMAGE HOWSOEVER ARISING FROM ANY CONTENTS OR OTHERWISE ARISING OUT OF OR IN CONNECTION WITH THIS MATERIAL.

is

published

This Material the Company’s website www.gmrpui.com which is subject to the laws of India, and is solely for information purposes only and should not be reproduced, retransmitted, republished, quoted or distributed to any other person whether in whole or in part or for any other purpose or otherwise.

available

and

on

Any reproduction, retransmission, republishing or distribution of this Material or the Contents thereof in certain jurisdictions may be restricted by law and persons who come into possession of this Material should observe such laws and restrictions if any.

This Material and any discussions which follows may contain ‘forward looking statements’ relating to the Company and the GMR Group and may include

statements relating to future results of operation, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the directors and management of the Company about the business, industry and markets in which the Company and the GMR Group operates and such statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s or the GMR Group’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of the Company or the GMR Group. In particular, such statements should not be regarded as a projection of future performance of the Company or the GMR Group. It should be noted that the actual performance or achievements of the Company and the GMR Group may vary significantly from such statements. All forward-looking statements are not predictions and may be subject to change without notice.

invitation or is not and does not constitute any offer or This Material recommendation or advise to purchase, acquire or subscribe to shares and other securities of the Company or the GMR Group and not part of this Material shall neither form the basis of or part of any contract, commitment or investment decision nor shall be relied upon as a basis for entering into any contract, commitment or investment decision in relation thereto. Prospective investors in the Company or the GMR Group should make its own investment decisions and seek professional advice including from legal, tax or investment advisors before making an investment decision in shares or other securities of the GMR Group. Remember, investments are subject to risks including the risk of loss of the initial principal amount invested; past performance is not indicative of future results.

the Company or

REGULATORY AUTHORITIES IN THE UNITES STATES OF AMERICA, INDIA, OR OTHER JURISDICTIONS, INCLUDING THE SECURITIES AND EXCHANGE COMMISSION AND THE SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”), HAVE NEITHER APPROVED OR DISAPPROVED THIS MATERIAL OR DETERMINED IF THIS MATERIAL IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY MAY CONSTITUTE A CRIMINAL OFFENSE.

1

Table of Contents

Particulars

Overview

Key Business Highlight

Financial Performance

- Energy Business

- Transportation and Urban Infrastructure Business

Strategy and Way Forward

ESG Practices

Annexures

Pg. No.

3 – 4

5

6 – 9

10 – 12

13 – 17

18 – 21

22 – 23

25 – 32

2

Snapshot of Businesses

Energy

Highways & EPC

Urban Infra

Solar  26 MW

2 Wind Plants 

3.4 MW

 2 Coal Plants  Operational 1,650 MW

Under-development 350 MW

 Gas Plants  1,156 MW

 Hydro 

180 MW operational & 1,425 MW under development

2 Annuity Projects 

133 kms

Special Economic Zone (SEZ)

2 Toll Projects 

216 kms

Railways 

Construction of ~417 kms stretch of DFC in UP for DFCCIL - part of Eastern Corridor

~1,145 acres in Tamil Nadu  Land at strategic locations, integrated industrial development

3

Corporate Structure

GMR Power and Urban Infra Ltd. (GPUIL)

56.6%

82%

100%

100%

GMR Energy

Other Energy Assets

GMR Highways Ltd.

Operational Projects

Stake

Operational Projects

Stake

Annuity Projects

Rajahmundry Plant (Gas)

45%

Wind Projects

100%

Pochanpalli

Chennai ORR

Under Development

Stake

BOT (toll) Projects

Talong HPP (Hydro)

Smart Electricity Distribution

99%

100%

Ambala Chandigarh

Hyderabad Vijayawada

90%

Special Investment Region

Under Development

Stake

Krishnagiri SIR

100%

Stake

100%

90%

Stake

100%

Warora Plant (Coal)

Kamalanga Plant (Coal)

92.0%

97.6%

Vemagiri Plant (Gas)

100%

Solar Power Project

Bajoli Holi Project (Hydro)

100%

79.9%

Under Development (Hydro)

Stake

Alaknanda Project

100%

Upper Karnali Project

73%

Note: Ownership includes both direct & indirect holding

4

Key Business Highlight

Energy 2.0 Strategy - Capturing New Growth Opportunities in Adjacent Business areas

FY22 – Key Business highlights

• GMR Smart Electricity Distribution Private Limited (GSEDPL), a stepdown subsidiary of GPUIL, has received

Letter of Intent from two UP Discoms1, to implement Advanced Metering Infrastructure (AMI) Project $  GSEDPL will smart meters

install, integrate and maintain 75.69 lakh prepaid

 Project will be spanned across 22 districts of Uttar Pradesh (UP)

for a duration of 10 years

Installation,

 AMI Project shall

include Supply,

Integration, Commissioning and Operation & Maintenance of smart meters on DBFOOT2 basis backed by state-of-the-art technology and software solutions for end-to-end automated system management  Project will be executed under RDSS3 and is expected to reduce the AT&C losses in the designated area and improve operational and collection efficiency of UP Discoms

1 Purvanchal Vidyut Vitran Nigam Limited and Dakshinanchal Vidyut Vitran Nigam Limited; 2 Design, Build, Finance, Own, Operate and Transfer; 3 Revamped Distribution Sector Scheme

$ Corporate Announcement dated July 13, 2023 - Click here for more details

5

Performance Highlights

GPUIL Performance Highlights – Q1FY24

Consolidated Financials1 • Gross Revenues

 ▼21% QoQ; ▲5% YoY to INR 11.2 bn

• EBITDA

 ▲1.4x QoQ; ▲11% YoY to INR 1.6 bn

• Net profit after tax2

 Loss of INR 2.0 bn vs INR 4.7 bn loss in Q4FY23, INR 2.1 bn profit in Q1FY23

Gross Revenue

EBITDA

INR bn

14.2

1.5

10.7

11.2

0.7

INR bn

1.6

Q1FY23

Q4FY23

Q1FY24

Q1FY23

Q4FY23

Q1FY24

Note: 1 GMR Energy Ltd is not consolidated due to JV structure and is incorporated in the Consol statements of GPUIL using equity method of accounting

2 From continuing operations

7

GPUIL Performance Highlights – Q1FY24

Operational Performance

o Warora: 90% vs 94% YoY

Energy – PLF

o Kamalanga: 82% vs 81% YoY

o Bajoli Holi: 66% vs 50% YoY

Highways – Average Daily Traffic growth

o Hyderabad - Vijaywada: ▲3% YoY

o Ambala - Chandigarh: ▼1% YoY

Segmental Revenue – Q1FY24#

Others 21.0%

Net Revenue

INR 10.7 bn

Highways 11.1%

Energy 67.9%

Note: #Energy segment does not include GMR Energy Limited (GEL) as GEL is a Joint Venture

8

GPUIL Consolidated Debt

Gross & Net Debt (INR bn) ^

Net Debt (Sector-wise) ^ (in INR bn, %age of total)

59

8

51

Others, 3 , 6%

Corporate, 27 , 54%

Highways, 17 , 35%

Energy, 3 , 5%

Gross Debt

Cash & equivalents

Net Debt

Reduction in Debt Levels:

Gross Debt reduced by ~INR 21.8 bn YoY

Net debt reduced by ~INR 27.2 bn YoY

Note : ^ As on June 30, 2023

FCCB not considered in debt; Energy segment does not include GMR Energy Limited (GEL) as GEL is a Joint Venture

9

Energy Business

Key Developments in Q1FY24 – Energy Business

Warora Power Project • Revenue ▼13% QoQ; ▼9% YoY

− PLF at 90% vs. 91% in Q4FY23 and 94% in Q1FY23 − Decline in revenue mainly attributable to reduction in merchant prices compared with the corresponding period

• EBITDA ▼7% QoQ; ▼38% YoY

− Impacted primarily due to high alternate coal prices and higher merchant prices during the last year

• Cash profit of INR 791 mn vs. INR 511 mn in Q4FY23 and INR 1.63 bn in Q1FY23

Kamalanga Power Project • Revenue ▼5% QoQ; ▼3% YoY

− PLF at 82% vs. 89% in Q4FY23 and 81% in Q1FY23 due to shutdown for minor maintenance

• EBITDA ▼12% QoQ; ▼31% YoY

− Impacted primarily due to high alternate coal prices and higher merchant prices during the last year

• Cash profit of INR 1.67 bn vs. INR 1.73 bn in Q4FY23 and INR 2.18 bn in Q1FY23

Bajoli Holi Hydro Power Project • Revenue ▲20x QoQ ▲25% YoY

− PLF at 66% vs. 5% in Q4FY23 and 50% in Q1FY23 due to stabilisation of plant

• EBITDA of INR 983 mn vs. loss of INR 237 mn (▲5x QoQ) and profit of INR 793 mn in Q1FY23 (▲24% YoY) • Cash profit of INR 60 mn vs. loss of INR 1.2 bn in Q4FY23 and loss of INR 99 mn in Q1FY23

11

GMR Energy Ltd (GEL) - Operational & Financial Highlights YoY

(figures in INR mn)

Note: Considered 100% of Kamalanga financials for GEL Consolidated Proforma; GMR Energy Limited (GEL) is a Joint Venture and is not consolidated in GPUIL results

• GEL Net Debt : ~INR 75 bn as of June 30, 2023

12

Q1FY2023Q1FY2024Q1FY2023Q1FY2024Q1FY2023Q1FY2024Q1FY2023Q1FY2024Q1FY2023Q1FY2024Revenue13,58013,4604,5654,1487,3307,0701401201,0801,353EBITDA 5,413 4,008 1,546 961 3,016 2,088 130 110 793 983 Interest3,6773,2461,0246021,1971,1753020 916 929PAT 2,480 770 1,344 527 1,386 868 20 40 (100) (134)PLF %94%90%81%82%17%15%50%66%ParticularsSolarBajoli HoliGEL Consolidated Proforma KamalangaWaroraTransportation and Urban Infrastructure Business (T&UI)

Key Developments in Q1FY24 – Highway Business

Hyderabad Vijayawada Project • Average Daily Traffic: ▲2% QoQ and ▲3% YoY

− Sole Arbitrator has released report on the claim quantification under Change-in-Law and quantified gross claim

of INR 16.72 bn

− Report submitted by Sole Arbitrator was taken on record and the matter is in progress before Delhi High Court

Ambala Chandigarh Project • Average Daily Traffic: ▲3% QoQ and ▼1% YoY • Received extension in concession period of 429 days along with claim of INR 87 mn on account of Farmer’s Strike

Force Majeure event occurred during October 12, 2020 to December 14, 2021

Chennai ORR Project • Received arbitration award of INR 5.1 bn

Pochanpalli Project • Delhi High Court (HC) upheld the interpretation of the Company on frequency of Major Maintenance • Order is under challenge by NHAI in the Division Bench of Delhi HC. Arguments are under progress

14

Highway Business Assets Performance YoY

(figures in INR mn)

Note: In Hyderabad Vijayawada Project, the Revenue shown is the Net Revenue after setting off the NHAI’s revenue share

15

Q1FY2023Q1FY2024Q1FY2023Q1FY2024Q1FY2023Q1FY2024Q1FY2023Q1FY2024Revenue652692170192134118193188EBITDA 543 590 113 140 67 55 131 118 Interest667713142101108103184179PAT (354) (308) (174) (73) 44 38 128 (45)Avg. Daily Traffic ('000) 25.6 26.5 39.7 39.3 - - - - ParticularsHyderabad-VijaywadaAmbala - ChandigarhGPELChennai ORRUrban Infrastructure – Potential to Unlock Value

Krishnagiri Special Investment Region: ~1,145 Acres

• ~161 acres under discussion for sale to an agency of Tamil Nadu Govt. • Next phase of development being planned for ~210 acres under Joint Venture with TIDCO1 • •

In discussion with various other parties for sale of lands

Industrial cluster catering to electronics, automobile, logistics, engineering and aerospace sectors

Note: 1 Tamil Nadu Industrial Development Corporation – TIDCO is a Government agency in the state of Tamil Nadu, India

16

EPC in Dedicated Freight Corridor Projects

DFCC’s Project Network

GMR’s Scope and Highlights

Kanpur

GMR’s stretch of work

Mughalsarai

• Dedicated Freight Corridor is INR 820 bn project undertaken by DFCCIL (a wholly owned public sector undertaking of Ministry of Railways)

• Corridor under construction - Eastern (Ludhiana

to Kolkata) & Western (Dadri to Mumbai)

• GMR along with JV partner has been awarded contract to construct a part of the DFC Eastern Corridor of ~450 kms

GMR’s Scope

Mughalsarai to New Karchana

New Karchana to New Bhaupur

Contract Package

201

202

• Project is funded by World Bank

Status update • Construction Progress: Physical progress of ~95.24% for package 201 and ~97.35% for package 202 is

completed as of July 31, 2023

17

Strategy and Way Forward

Maximizing value of existing assets & Building a Top Tier tech enabled Clean Energy business

3 pillars of our strategy going forward

Enhance Value of existing businesses

• Aim for higher utilization of existing assets & efficiency improvement measures

• Tie-up open capacities through

innovative PPA models including RTC

• Operationalize gas assets

Nurture & Develop opportunities in Green Ecosystem

• Continued focus on hydro

• Clean energy solution for Commercial & Industrial segment

Create Value in Adjacent Areas

• Opportunities in distributed

• Technology oriented

Asset Light opportunities

• Selectively foray into customer facing businesses

• Scale power trading

business

• Differentiated service offerings using new- age technology solutions

segments like electric mobility & storage solutions

• Energy efficiency as a service

• Forge technology & strategic

partnerships and access green financing

19

To Operationalise the Strategy We Envision to Follow 5 Overarching Principles

Principles

`

High focus on innovative, asset- light, platform-based and technology- oriented business models

Deploy efficient capital structure and access green financing

Enter strategic partnerships with global reputed majors and institutes of excellence

`

Invest in emerging start-ups in cleantech ecosystem where there are potential synergies

Build on our group’s strengths and leverage infrastructure assets and businesses of the group as a launch pad for new offerings

20

Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects

Highways

 Expedite receipt / settlement of pending operational and litigation claims  Monetize the existing assets

Krishnagiri SIR

 Conclude current monetization efforts:

o ~161 acres under sale to agency of Tamil Nadu Govt. in FY24 o Next phase of development being planned for ~210 acres

 Target Industrial players in electronics, automobile, logistics, and

engineering sectors

 In discussion with various other parties for sale of lands

EPC

 Continue growing the order book  Participation in railway stations development bids through PPP

21

ESG Practices

ESG

Environment

Social

• GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental

Management System

• GKEL and GWEL have ISO 50001 in place

• Both GKEL and GWEL Completed Green House Gas emission verification ISO 14064 international standard for Carbon emission

audit as per disclosure.

• GWEL has implemented Water Efficiency Management System (ISO

46001).

• GKEL Initiated Water efficiency management system. Policy, SOP & Manual

preparation initiated.

CSR Spend (Q1FY24) - INR 4.61 mn Total beneficiaries - Over 29,000

• CSR activities implemented in areas of Education, Health and Livelihoods

• 16 students from Toopran and 12 students from Hyd-Vja got selected for National Means-cum-Merit Scholarship from central govt. with GMRVF’s coaching support

• Organized 5 days training on floriculture for 50 farmers and another 5 days training on System of Wheat Intensification for 70 farmers in association with the Commonwealth Educational Media Centre for Asia (CEMCA) at Warora

• World Environment Week celebrated with Employees & Associated

• Distributed paddy seeds to over 100 farmers, mushroom seeds and feed to

Employees from 05th Jun’23 – 10th Jun’23 at both GKEL & GWEL

25 women at Kamalanga

• As a part of Bio-Diversity measures, on World Environment Day 200 saplings planted inside plant and 2096 distributed to employees and associates in GWEL. 190 mango saplings planted in GKEL.

• To Minimize Fugitive emission, truck mounted fog cannon is deployed in

GWEL

• DFCC has an ISO 14001 certified Environmental Management System

• Highways sector have adopted measures to reduce energy consumption by

converting conventional HPSV streetlights to LED

• Highway locations organized health camps, eye check-up camps and blood donation camps as part of Azadi ka Amrut Mahotsav as directed by NHAI

People

• Learning and Development  29 business/corporate trainings conducted in Q1FY24 apart from plant specific

trainings

 2112 work hours of training provided covering 246 unique permanent employees

in the Q1FY24 out of which 235 are male and 11 are female employees

• Plastic mix overlay (eco-friendly method)

road major maintenance carried out for improving durability. Saving of natural resources by using recycled method like Hot in Place Recycled in maintenance and maximizing recycling during upgradation

for

Note : 1. GKEL is GMR Kamalanga Energy Ltd, 2. GWEL is GMR Warora Energy Ltd.

Governance

• Strict governance principles through guided values of the organization and

all the secretarial compliances in place Internal audits, MAG audits keep processes very transparent

• • Regular Board meetings conducted to keep Board updated on all aspects • Periodic training of employees on the CoC guidelines • Risk management framework and governance process, including SOPs

around risk assessment and mitigation

23

Thank You

For further information, please visit

Website: www.gmrpui.com or

Contact: GPUIL–IR@gmrgroup.in

Annexures

Annexures

Particulars

Profitability Statement (Consolidated)

Financial Performance

•

Energy Sector (Consolidated)

• Warora (Standalone)

•

•

Kamalanga (Standalone)

Bajoli Holi (Standalone)

• Highways Sector (Consolidated)

No.

A

B

C

D

E

F

26

Annexure A : GPUIL (Consolidated)

27

INR mnQ1FY2023Q4FY2023Q1FY2024Gross Revenue10,687 14,234 11,242 Less: Revenue Share483 496 534 Net Revenue10,204 13,738 10,708 Total Expenditure8,748 13,067 9,093 EBITDA1,456 671 1,615 EBITDA margin14%5%15%Other Income947 1,655 662 Interest & Finance Charges3,237 3,264 2,793 Depreciation468 210 385 PBT before exceptional items(1,302) (1,148) (901) Exceptional Income/(Expense)- (2,061) (1,181) PBT(1,302) (3,209) (2,082) Tax69 (5) 26 Profit after Tax (PAT)(1,370) (3,204) (2,109) Add: Share in Profit / (Loss) of JVs / Associates 3,443 (1,455) 93 PAT from Continuing Operations2,073 (4,658) (2,015) Add: Profit / (Loss) from Discontinued Operations(57) (51) (162) Add: Other Comprehensive Income (OCI)320 263 (20) Total Comprehensive Income2,337 (4,446) (2,198) Less: Minority Interest (MI)(91) 40 (132) Total Comprehensive Income (Post MI)2,427 (4,486) (2,066) Annexure B : Energy Business (Consolidated)

28

INR mnQ1FY2023Q4FY2023Q1FY2024Gross Revenue5,473 9,692 7,274 Operating Expenditure5,382 9,837 7,129 EBITDA91 (145) 145 EBITDA margin2%-1%2%Other Income43 578 274 Interest & Fin Charges537 492 384 Depreciation7 15 13 Exceptional Income/(Expense)0 (963) (1,055) PBT(411) (1,037) (1,034) Taxes51 (47) 15 Profit after Tax (PAT)(461) (990) (1,048) Add: Share in Profit / (Loss) of JVs / Associates 3,442 (1,463) 87 PAT (After share in JVs/Associates)2,981 (2,453) (961) Annexure C : Warora (Standalone) Power Plant

Note: Financials are at 100% level

29

INR mnParticularsQ1FY2023Q4FY2023Q1FY2024Total Revenue4,565 4,773 4,148 Fuel - Consumption2,583 3,125 2,722 Other Expenses 435 611 465 EBITDA1,546 1,037 961 EBITDA margin34%22%23%Other Income236 109 432 Interest & Finance Charges1,024 636 602 Depreciation293 268 264 Exceptional Income/(Expense)879 0 - PBT1,344 243 527 Taxes- - - PAT1,344 243 527 Annexure D : Kamalanga (Standalone) Power Plant

Note: Financials are at 100% level

30

INR mnParticularsQ1FY2023Q4FY2023Q1FY2024Total Revenue7,330 7,463 7,070 Fuel - Consumption3,261 4,084 3,627 Other Expenses 1,052 1,016 1,354 EBITDA3,016 2,363 2,088 EBITDA margin41%32%30%Other Income368 717 753 Interest & Finance Charges1,197 1,346 1,175 Depreciation801 797 799 Exceptional Income/(Expense)- - - PBT1,386 937 868 Taxes- - - PAT1,386 937 868 Annexure E : Bajoli Holi (Standalone) Power Plant

Note: Financials are at 100% level

31

INR mnParticularsQ1FY2023Q4FY2023Q1FY2024Total Revenue1,080 63 1,353 Transmission Charges127 - 228 Other Expenses 160 301 142 EBITDA793 (237) 983 EBITDA margin73%-73%Other Income24 1 6 Interest & Finance Charges916 943 929 Depreciation1 242 195 Exceptional Income/(Expense)- - - PBT(100) (1,421) (134) Taxes- (250) - PAT(100) (1,170) (134) Annexure F : Highway Business (Consolidated)

32

INR mnQ1FY2023Q4FY2023Q1FY2024Gross Revenue1,632 1,760 1,723 Less: Revenue Share483 496 534 Net Revenue1,149 1,264 1,189 Operating Expenses271 410 297 EBITDA878 855 892 EBITDA margin76%68%75%Other Income223 503 88 Interest & Finance Charges1,137 1,379 1,185 Depreciation380 123 296 Exceptional Income/(Expense)- 244 - PBT(416) 99 (501) Taxes12 68 7 Profit after Tax (PAT)(428) 30 (508)