Consolidated financial statement of JSW S.A. Capital Group for 2012

33. Earnings per share

Basic earnings per share

Basic earnings per share are calculated as the quotient of profit attributable to the Parent Company’s shareholders and the weighted average number of ordinary shares during the year.

  2012 2011
restated
Profit attributable to shareholders of the Parent Company 985.1 2,067.1
Weighted average number of ordinary shares 117,980,923 113,239,743
Basic earnings per share (in PLN per share) 8.35 18.25

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Diluted earnings per share

Diluted earnings per share are calculated by adjusting the weighted average number of ordinary shares in a manner allowing for a potential complete conversion into ordinary shares causing dilution. The Parent Company has no instruments that would cause dilution of the potential common shares. Accordingly, diluted earnings per share are equal to the basic earnings per share of the Parent Company.