| Serial Number (Sr. No.) | Particulars | Quarter ended | year ended | |
|---|---|---|---|---|
| June 30, 2000 | June 30, 1999 | 31 Mar 2000 | ||
| Interest Income | 283.56 | 198.92 | 852.87 |
| Other Income | 31.23 | 23.28 | 194.05 |
| Total Income | 314.79 | 222.20 | 1,046.92 |
| Interest expended | 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 | 8,739.77 | 5,954.39 | 9,866.02 |
| Total advances (including Credit substitutes) | 5,361.48 | 3,448.56 | 5,030.96 |
| Basic and diluted Earnings Per Share (not annualised for the quarters) | 2.04 | 1.23 | 6.38 |
Notes:
- Out of amortised ADS issue expenditure, ₹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 ₹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 March 2000)
- Item 5(c) includes Rent, taxes and lighting ₹6.90 crores (Q1:1999–2000 – ₹3.86 crores and LY – ₹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 (₹ in crores)
| Particulars | Quarter ended | year ended | |
|---|---|---|---|
| June 30, 2000 | June 30, 1999 | 31 Mar 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 and 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 20 July 2000.
Place: Mumbai H.N.Sinor
Date: 20 July 2000 Managing Director and
Chief Executive Officer
Click here for Performance Review for the three-month period ended 30 June 2000