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News Release
July 21, 2001
AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE
30, 2001
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Sr.
No.
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Particulars
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Quarter
ended
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Year
ended Mar 31, 2001
|
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June 30,2001
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June
30,2000
|
|
1
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Interest earned
(a)+(b)+(c)+(d)
|
468.31
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283.56
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1,242.13
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|
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a) Interest/discount
on advances/bills
|
189.66
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118.5
|
570.91
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|
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b) Income on
investments
|
239.04
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126.93
|
555.73
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|
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c) Interest on
balances with Reserve Bank of India and other interbank funds
|
32.91
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37.19
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108.67
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|
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d) Others
|
6.70
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0.94
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6.82
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2
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Other Income
|
127.18
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31.23
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220.01
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A) TOTAL INCOME
(1) + (2)
|
595.49
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314.79
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1,462.14
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3
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Interest Expended
|
318.61
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198.19
|
837.67
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4
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Operating Expenses
(e) + (f)
|
138.21
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54.73
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334.30
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|
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e) Payments to
and provisions for employees
|
32.72
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12.03
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51.71
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f) Other operating
expenses
|
105.49
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42.70
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282.59
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B)
TOTAL EXPENDITURE (3)+ (4)
(excluding provisions and contingencies) |
456.82
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252.92
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1,171.97
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5
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OPERATING PROFIT
(A-B)
(Profit before provisions
and contingencies)
|
138.67
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61.87
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290.17
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|
6
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Other provision
and contingencies (net)
|
45.66
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14.07
|
63.65
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|
7
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Provision
for taxes |
27.76
|
7.66
|
65.42
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|
8
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F) Net Profit
(5-6-7)
|
65.25
|
40.14
|
161.10
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9
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Paid-up equity
share capital
|
220.36
|
196.82
|
220.36
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|
10
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Reserves excluding
revaluation reserves
|
1,092.26
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992.82
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1,092.26
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11
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Analytical Ratios
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|
|
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|
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(i) Percentage
of shares held by Government of India
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..
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..
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..
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|
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(ii) Capital
Adequacy Ratio
|
12.53%
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19.24%
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11.57%
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|
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(iii) Earnings
per share for the period/year (in Rs.) (basic and diluted)
|
2.96
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2.04
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8.13
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|
12
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Aggregate of
Non-Promoter Shareholding
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|
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No. of shares
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11,89,62,731
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7,43,13,080
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11,68,16,231
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Percentage of
shareholding
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53.99
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37.76
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53.01
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Notes:
1. The results for Q1 2002 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.
2. Provision for taxes has been arrived at as per Accounting Standard
22.
3. Net non-performing assets to advances (including credit substitutes)
is 1.31 % (Previous year 1.44 % )
| Financial results under
US GAAP accounting |
(Rupees in crores) |
| Particulars |
Quarter
ended (unaudited) |
Year
ended (audited) |
|
June
30,2001
|
June
30,2000
|
March
31, 2001
|
| Net income
under US GAAP |
56.20
|
44.60
|
130.84
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| Reconciliation
between US GAAP and Accounting Standards followed in India
|
| Profit
under Indian GAAP |
65.25
|
40.14
|
161.10
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| Deferred taxation |
(4.24)
|
1.06
|
44.21
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| Loan impairment |
(2.20)
|
(3.96)
|
(39.53)
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| Mark to Market
impact on investments |
(2.21)
|
3.89
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(40.59)
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| ADR Issue expenditure
charged to P & L A/c |
2.55
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2.45
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10.47
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| Others |
(2.95)
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1.02
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(4.82)
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| Profit under
US GAAP |
56.2
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44.60
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130.84
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The above financial results have been taken
on record by the Board of Directors of the Bank at its meeting held on
July 21, 2001.
Place: Mumbai
Date: July 21, 2001 |
H. N.Sinor
Managing Director &
Chief Executive Officer
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