| Sr. No. |
Particulars | Quarter ended | year ended | |
|---|---|---|---|---|
| June 30, 2000 | June 30, 1999 | Mar. 31, 2000 | ||
|
Interest Income |
283.56 |
198.92 |
852.87 |
|
Other Income |
31.23 |
23.28 |
194.05 |
|
Total Income |
314.79 |
222.20 |
1046.92 |
|
Interest Expenditure |
198.19 |
160.83 |
666.95 |
|
Total Operating Expenditure |
|
|
|
|
(a) Staff Cost |
12.03 |
6.84 |
36.37 |
|
(b) Depreciation |
2.67 |
4.09 |
24.79 |
|
(c) Other Expenditure |
40.03 |
14.23 |
92.15 |
|
Total Expenditure (4) + (5) |
252.92 |
185.99 |
820.26 |
|
Gross Profit before tax and provisions |
61.87 |
36.21 |
226.66 |
| Provision for taxes | 7.66 | 1.42 | 33.02 | |
|
Other provisions |
14.07 |
14.54 |
88.34 |
|
Net Profit |
40.14 |
20.25 |
105.30 |
|
Paid up Equity Share Capital |
196.82 |
165.00 |
196.82 |
|
Reserves (excluding Revaluation Reserves) |
992.82 |
163.58 |
952.69 |
|
Total deposits |
8739.77 |
5954.39 |
9866.02 |
|
Total advances (including Credit substitutes) |
5361.48 |
3448.56 |
5030.96 |
|
Basic and diluted Earnings Per Share (not annualised for the quarters) |
2.04 |
1.23 |
6.38 |
Notes :
- Out of amortised ADS issue expenditure, Rs.2.45 crores has been charged off during the quarter.
- Depreciation on fixed assets has been charged over the estimated useful life of the fixed assets on a straight line basis against WDV basis adopted earlier leading to write back of excess depreciation of Rs.4.96 crores. The amount has been used to increase bad debts provision over and above RBI norm on old NPAs of earlier years.
- Net non-performing assets on advances (including credit substitutes) is 1.16% (1.14% as on 31.03.2000)
- Item 5(c) includes Rent, taxes and lighting Rs.6.90 crores (Q1:1999-2000 – Rs.3.86 crores and LY – Rs.18.01 crores). Other items included in 5(c) individually do not exceed 10% of total operating expenditure.
Unaudited financial results under US GAAP accounting (Rupees in crores)
| Particulars | Quarter ended | year ended | |
|---|---|---|---|
| June 30, 2000 | June 30, 1999 | Mar. 31, 2000 | |
Net income under US GAAP |
44.60 |
26.44 |
140.20 |
Reconciliation between US GAAP and Accounting Standards followed in India |
|||
Profit under Indian GAAP |
40.14 |
20.25 |
105.30 |
Deferred taxation |
1.06 |
0.60 |
(11.30) |
Loan impairment |
(3.96) |
4.20 |
35.80 |
ADR Issue expenditure charged to P & L A/c |
2.45 |
.. |
9.90 |
Others |
4.91 |
1.39 |
0.50 |
Profit under US GAAP |
44.60 |
26.44 |
140.20 |
The above financial results have been taken on record by the Board of Directors of the Bank at its meeting held on July 20, 2000.
Place: Mumbai H.N.Sinor
Date: July 20, 2000 Managing Director &
Chief Executive Officer
Click here for Performance Review for the three-month period ended June 30, 2000