In the year ended 31 December 20X9, there were 12 million ordinary shares in issue. In the year ended 31 December 20X9 the earnings available for ordinary shareholders amounted to INR 5 million. There are 1 million 10% INR 1 convertible loan notes in issue, convertible at the rate of 3 ordinary shares for every INR 4 of notes in the year ended 31/12/20X9 and the rate of company tax is 30%.
Required:
What is the fully diluted EPS for the year ended 31 December 20X9?
Calculation of Diluted EPS:- 1. Saving in Interest  of loan :-  INR (10,00,000 * 0.10) = 100,000                                                   =  INR 100,000 * (1 - 0.30 ) = 70,000 2. Increase in Number of Shares:-   ... See the full answer