|
Audited Financial Results for the
year ended March 31, 1999
(Rupees in crores)
|
Sr.
No.
|
Particulars
|
Fourth Quarter ended
|
Year ended
|
|
March 31, 1999
|
March 31, 1998
|
March 31, 1999
|
March 31, 1998
|
|
1
|
Interest
income |
166.32
|
91.85
|
544.05
|
258.49
|
|
2
|
Other
income |
22.36
|
16.93
|
89.03
|
85.05
|
|
3
|
Total
income |
188.68
|
108.78
|
633.08
|
343.54
|
|
4
|
Interest
expenditure |
128.58
|
69.80
|
425.51
|
185.47
|
|
5
|
Other
expenditure |
21.84
|
11.75
|
65.44
|
43.14
|
|
6
|
Total
expenditure |
150.42
|
81.55
|
490.95
|
228.61
|
|
7
|
Gross
Profit before depreciation, provisions and contingencies |
38.26
|
27.23
|
142.13
|
114.93
|
|
8
|
Depreciation
on fixed assets |
4.90
|
4.35
|
17.53
|
14.47
|
|
9
|
Profit
before provisions and contingencies |
33.36
|
22.88
|
124.60
|
100.46
|
|
10
|
Provision
for taxes |
12.13
|
2.63
|
33.78
|
22.78
|
|
11
|
Provision
for depreciation on investments |
(10.24)
|
11.26
|
(4.84)
|
13.80
|
|
12
|
Other
provisions and contingencies |
12.21
|
0.87
|
32.30
|
13.66
|
|
13
|
Profit
after tax [9 – (10+11+12) ] |
19.26
|
8.12
|
63.36
|
50.22
|
|
14
|
Paid
up Equity Share Capital |
165.00
|
165.00
|
165.00
|
165.00
|
|
15
|
Reserves
(excluding Revaluation Reserves) |
143.33
|
101.75
|
143.33
|
101.75
|
|
16
|
Total
deposits |
6,072.94
|
2,629.02
|
6,072.94
|
2,629.02
|
|
17
|
Total
advances |
2,110.12
|
1,127.87
|
2,110.12
|
1,127.87
|
|
18
|
Credit
- like Corporate debt instruments |
1,277.48
|
269.07
|
1,277.48
|
269.07
|
|
Notes :
- The figures for the previous year ended
March 31, 1998 have been regrouped and reclassified wherever necessary.
- The Board of Directors have recommended
a dividend of Rs. 1.20 per equity share (12 per cent) for the year
ended March 31, 1999.
- The Bank has made a detailed assessment
of the risks posed to its operations by the Year 2000 (Y2K) problem
and has initiated appropriate risk-mitigation measures, including
a Business Continuity Plan, which would ensure that all critical operations
are maintained and customer transactions fully protected. The Board
of Directors monitors the project every month. The Bank has spent
an amount of Rs. 49.52 lakhs during 1998-99 on the Y2K Project. The
expenditure on this project during the year 1999-2000 is estimated
to be Rs. 50 lakhs.
- The above results have been taken on
record by the Board of Directors of the Bank at its meeting held on
April 22, 1999.
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