Quarterly Results

                                                                               (Rs. in Lacs)
Sl.No.   Particulars Quarter ended Nine Months ended Year ended
  31.12.2017 30.09.2017 31.12.2016 31.12.2017 31.12.2016 31.03.2017
      (Unaudited) (Audited) (Unaudited) (Unaudited) (Unaudited) (Audited)
(1)   (2) (3) (4) (5) (6) (7) (8)
I   Revenue from operations              398.67              341.85           1,240.90           1,114.51           7,914.20       8,205.83
    Other Income                19.40                19.23               21.39                49.09              253.82         286.15
    Total Income              418.07              361.08           1,262.29           1,163.60           8,168.02       8,491.98
II   Total Expenditure            
    Operating expenses              601.84              346.91              586.87           1,360.52           1,919.08       2,225.23
    Employee benefits expense                29.92                29.71               75.68                99.45              225.34         292.81
    Finance costs              179.61              172.16              166.41              520.59              426.66         586.69
    Depreciation and amortization expense            1,054.54           1,057.04           1,021.19           3,132.66           2,783.16       3,787.50
    Other expenses              135.20              156.04              330.66              475.05           1,092.74       1,317.09
    Total Expenditure            2,001.11           1,761.86           2,180.81           5,588.27           6,446.98       8,209.32
III   Profit for the year before taxation           (1,583.04)          (1,400.78)             (918.52)          (4,424.67)           1,721.04         282.66
IV   Tax Expense:            
    (1) Current Tax                14.45                13.80             (462.24)                42.27               99.33         121.69
    (2) Deferred Tax                      -                       -                483.70                   (2.02)
    Total Tax                14.45                13.80               21.46                42.27               99.33         119.67
V   Profit for the year after tax            (1,597.49)          (1,414.58)             (939.98)          (4,466.94)           1,621.71         162.99
VI   Other Comprehensive Income            
    Unrealised gain on Investment                     -                  (1.76)                (1.61)                   3.16            (9.04)
    Actuarial (gain)/loss in respect of defined benefit plan                  (1.00)                (0.04)                (4.09)                (2.99)              (12.27)            (8.66)
    Total Other comprehensive Income                  (1.00)                (1.80)                (5.70)                (2.99)                (9.11)          (17.70)
VII   Total Comprehensive Income for the year           (1,598.49)          (1,416.38)             (945.68)          (4,469.93)           1,612.60         145.29
VIII   Paid-up equity share capital             
    (Face Value Rs 10)          18,619.50         18,619.50         18,619.50         18,619.50         18,619.50     18,619.50
    Earning Per Share            
    Basic                  (0.86)                (0.76)                (0.50)                (2.40)                 0.87             0.09
    Diluted                 (0.86)                (0.76)                (0.50)                (2.40)                 0.87             0.09
1   Hon’ble High Court of Allahabad had, vide its Judgement dated October 26, 2016 on a Public Interest Litigation filed in 2012 (challenging the validity of the Concession Agreement and seeking the Concession Agreement to be quashed) has directed the Company to stop collecting the user fee holding the two specific provisions relating to levy and collection of fee to be inoperative but refused to quash the Concession Agreement. Consequently, Collection of user fee from the users of the NOIDA bridge has been suspended from October 26, 2016 and an appeal has been filed before Hon’ble Supreme Court of India seeking an Interim Stay on the said Judgment.
    On November 11, 2016, Hon’ble Supreme Court issued its Interim Order though denying the interim stay, sought assistance of CAG to submit a report whether the Total Cost of the Project, in terms of the Concession Agreement has been recovered or not by the company.The CAG has submitted its report to Hon'ble Supreme Court on March 22,2017.
    On August 11,2017, Hon'ble Supreme Court permitted copy of full CAG report to be provided to the Company. The CAG Report specifies that total Cost of Project under the Concession Agreement remain unrecovered and is not going to be recovered in the original Concession Period.The Hon'ble Supreme Court vide its order dated December 4,2017 directed that the matter be listed on February 13,2018.
    The Company has also notified the NOIDA Authority that the Judgement of the Hon’ble Allahabad High Court read with Interim Order of the Hon’ble Supreme Court of India constitute a 'Change in law' under the Concession Agreement and submitted a detailed proposal for modification of the Concession Agreement, so as to place it in substantially the same legal, commercial and economic position as it was prior to the said Change in Law. The Company has also initiated Notice of Arbitration to Noida Authority.
    Pursuant to the constituation of arbital tribunal comprising of Hon'ble Justice R.C.Lahoti,Former Chief Justice of India (Presiding Arbitrator). Hon'ble Justice Vikramjit Sen and Hon'ble Justice S.B.Sinha ("Aribitral Tribunal"), the Company on 20.01.2018 has filed before the Hon’ble Arbitral Tribunal a Statement of Claim against NOIDA seeking to enforce its contractual rights under the Concession Agreement, arising from the breaches of the Concession Agreement and NOIDA’s failure to fulfil its obligations thereunder, denying the Company its rights and entitlements as contemplated under the Concession Agreement and under applicable law. 
    The Statement of Claim is without prejudice to the Company’s rights and contentions in the Special Leave Petition ("SLP") (which is presently pending adjudication before the Hon’ble Supreme Court of India) and is only for seeking enforcement of the Company’s contractual rights under the Concession Agreement and is fundamentally different from the proceedings of SLP.  It is the intention of the Company to ensure due performance and implementation of the Concession Agreement or claim corresponding compensation for the losses arising from the willful defaults and misrepresentations by NOIDA. 
    In the Statement of Claim, the Company is primarily seeking award of compensation for multiple causes in various prayers and also providing for claims in the alternate, together with seeking interest and costs.
    Based on legal opinion obtained by the Company and the Board's reliance on the provisions of the Concession agreement (relating to Compensation and other recourses),the Company is confident that the underlying value of the Intangible and other assets are not impaired.
    The Company continues to fulfill its obligations as per the Concession Agreement including maintenance of Project assets.
2   The Company had only one business segment and therefore reporting of segment wise information is not applicable.
3   The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at a meeting held on February 06, 2018. 
4   Previous period figures have been regrouped / reclassified wherever necessary. 
5   The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchange under Regulation 33 of the SEBI (Listing and Other Disclosure Requirement ) Regulation 2015. The full format of the Quarterly Financial Results are available on the websites of the Company, National Stock Exchange of India Limited and BSE Limited at www.ntbcl.com, www.nseindia.com and www.bseindia.com respectively.
      For and on behalf of the Board of Directors          

      Ajai Mathur          
      Managing Director        
      DIN 00044567          
      Place: Noida, U.P          
      Date: February 06, 2018