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Notes forming part of onancial statements (Contd.)
Annual Report 2016-17
•
267
28. Earnings per share
For the year ended
March 31, 2017
March 31, 2016
Numerator for Basic and Diluted EPS
Net Proot after tax (In
`
Million)
(A)
2,940.32
2,495.99
Denominator for Basic EPS
Weighted average number of equity shares
(B)
80,000,000
79,810,026
Denominator for Diluted EPS
Number of equity shares
(C)
80,000,000
80,000,000
Basic Earnings per share of face value of
`
10 each (In
`
)
(A/B)
36.75
31.27
Diluted Earnings per share of face value of
`
10 each (In
`
)
(A/C)
36.75
31.20
For the year ended
March 31, 2017
March 31, 2016
Number of shares considered as basic weighted average shares outstanding
80,000,000
79,810,026
Add: Effect of dilutive issues of stock options
-
189,974
Number of shares considered as weighted average shares and potential
shares outstanding
80,000,000
80,000,000
29. Gratuity plan:
The Company has a deoned beneot gratuity plan. Each employee is eligible for gratuity on completion of minimum
ove years of service at 15 days basic salary (last drawn basic salary) for each completed year of service. The scheme is
funded with an insurance Company in the form of a qualifying insurance policy.
The following tables summarize the components of net beneot expense recognized in the statement of proot and loss
and the funded status and amounts recognized in the Balance Sheet for the respective plans.
Statement of proot and loss
Net employee beneot expense (recognized in statement of proot and loss)
(In
`
Million)
For the year ended
March 31, 2017
March 31, 2016
Current service cost
103.80
124.06
Interest cost on beneot obligation
40.81
38.70
Expected return on plan assets
(40.00)
(29.35)
Net beneot expense
104.61
133.41
Net actuarial (gain) / loss recognized in the year
63.32
(94.55)
Actual return on net plan assets
47.25