|
Press Release
October 25, 2001
Audited Financial Results For The Half-year Ended September
30, 2001
(Rupees in crores)
| Sr. No. |
Particulars |
Three
months ended |
Half-year
ended |
Year
ended Mar 31, 2001 |
|
|
Sept 30,
2001 |
Sept 30,
2000 |
Sept 30,
2001 |
Sept 30,
2000 |
| 1 |
Interest earned (a)+(b)+(c)+(d) |
464.69 |
287.34 |
933 |
570.90 |
1,242.13 |
|
a)Interest/discount
on advances/bills |
195.20 |
131.35 |
384.86 |
249.85 |
570.91 |
|
b)Income on investments |
243.55 |
124.78 |
482.59 |
251.71 |
555.73 |
|
c)Interest on balances
with Reserve Bank of India and other interbank funds |
23.21 |
30.68 |
56.12 |
67.87 |
108.67 |
|
d)Others |
2.73 |
0.53 |
9.43 |
1.47 |
6.82 |
| 2 |
Other Income |
95.11 |
34.12 |
222.29 |
65.35 |
220.01 |
|
A)TOTAL INCOME (1)
+ (2) |
559.80 |
321.46 |
1155.29 |
636.25 |
1,462.14 |
| 3 |
Interest Expended |
323.58 |
191.36 |
642.19 |
389.55 |
837.67 |
| 4 |
Operating Expenses (e)
+ (f) |
139.26 |
71.56 |
277.47 |
126.29 |
334.30 |
|
e)Payments to and provisions
for employees |
34.36 |
11.29 |
67.08 |
23.32 |
51.71 |
|
f)Other operating expenses |
104.9 |
60.27 |
210.39 |
102.97 |
282.59 |
|
B)TOTAL EXPENDITURE
(3)+ (4) (excluding provisions and contingencies) |
462.84 |
262.92 |
919.66 |
515.84 |
1,171.97 |
| 5 |
OPERATING PROFIT
(A-B) (Profit before Provisions and Contingencies) |
96.96 |
58.54 |
235.63 |
120.41 |
290.17 |
| 6 |
Other provisions and
contingencies (net) |
1.25 |
22.43 |
46.91 |
36.50 |
63.65 |
| 7 |
Provision for taxes |
29.56 |
6.05 |
57.32 |
13.71 |
65.42 |
| 8 |
Net Profit (5-6-7) |
66.15 |
30.06 |
131.40 |
70.20 |
161.10 |
| 9 |
Paid-up equity share
capital |
220.36 |
196.82 |
220.36 |
196.82 |
220.36 |
| 10 |
Reserves excluding revaluation
reserves |
1,223.66 |
1,022.89 |
1,223.66 |
1,022.89 |
1,092.26 |
| 11 |
Analytical Ratios |
|
|
|
|
|
|
(i) Percentage of shares
held by Government of India |
.. |
.. |
.. |
.. |
.. |
|
(ii) Capital Adequacy
Ratio |
13.00% |
17.59% |
13.00% |
17.59% |
11.57% |
|
(iii) Earnings per share
for the period/year (in Rs.) (basic and diluted) |
3 |
1.53 |
5.96 |
3.57 |
8.13 |
| 12 |
Aggregate of Non-Promoter
Shareholding |
|
|
|
|
|
|
No. of shares |
11,89,62,731 |
7,43,13,080 |
11,89,62,731 |
7,43,13,080 |
11,68,16,231 |
|
Percentage of shareholding |
53.99 |
37.76 |
53.99 |
37.76 |
53.01 |
|
Note:
- The results for the current year include the results of erstwhile
Bank of Madura on their merger with us effective March 10, 2001. The
results are not therefore comparable with earlier periods
- Provision for taxes has been arrived at as per Accounting Standard
22
- Net non-performing assets to net advances (including credit substitutes)
is 1.41 % (Year ended March 31, 2001 1.44 % )
- Bank has raised subordinated debt towards Tier II capital for Rs.
227 crores in July 2001
Financial results under US GAAP accounting
(Rupees in crores)
| Particulars |
Three
months ended (unaudited) |
Half-year
ended (unaudited) |
Year
ended (audited) |
|
Sept 30, 2001 |
Sept 30, 2000 |
Sept 30, 2001 |
Sept 30, 2000 |
Mar 31, 2001 |
| Net income under US
GAAP |
57.26 |
16.08 |
113.46 |
60.68 |
130.84 |
| Reconciliation between
US GAAP and Accounting Standards followed in India |
| Profit under Indian
GAAP |
66.15 |
30.06 |
131.40 |
70.20 |
161.10 |
| Deferred taxation |
13.56 |
17.30 |
9.32 |
18.40 |
44.21 |
| Loan impairment |
(16.60) |
(2.67) |
(18.80) |
(6.63) |
(39.53) |
| Mark to Market impact
on investments |
(6.78) |
(32.17) |
(8.99) |
(28.28) |
(40.59) |
| ADR Issue expenditure
charged to P & L A/c |
3.06 |
2.93 |
5.61 |
5.38 |
10.47 |
| Others |
(2.13) |
0.63 |
(5.08) |
1.61 |
(4.82) |
| Profit under US GAAP |
57.26 |
16.08 |
113.46 |
60.68 |
130.84 |
|
The above financial results have been taken on record
by the Board of Directors of the Bank at its meeting held on October 25
2001
Place: Mumbai
Date: October 25 2001 |
H.N.Sinor
Managing Director &
Chief Executive Officer |
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