Audited Financial Results
For The Period Ended December 31, 2000
(Rupees in crores)
Sr.
No.
Particulars
Nine
months ended
Three
months ended
Year
ended
31-Dec-2000
31-Dec-1999
31-Dec-2000
31-Dec-1999
Mar.31,2000
1.
Interest
Income
873
593.08
302.10
205.50
852.87
2.
Other
Income
120.40
104.14
55.05
49.15
194.05
3.
Total
Income
993.40
697.22
357.15
254.65
1046.92
4.
Interest
Expenditure
594.12
460.78
204.57
164.7
666.95
5.
Total
Operating Expenditure
(a)
Staff Cost
34.04
20.37
10.72
6.66
36.37
(b)
Depreciation
21.82
14.34
10.58
5.29
24.79
(c)
Other Expenditure
156.75
51.11
65.02
21.49
92.15
6.
Total
Expenditure (4) + (5)
806.73
566.60
290.89
198.14
820.26
7.
Gross
Profit before tax and provisions
186.67
130.62
66.26
56.51
226.66
8.
Provision
for taxes
35.81
31.08
22.10
18.19
33.02
9.
Other
provisions
40.16
27.18
3.66
10.06
88.34
10.
Net
Profit
110.70
72.36
40.50
28.26
105.30
11.
Paid
up Equity Share Capital (face value of Rs.10/- per equity share)
196.82
165.00
196.82
165.00
196.82
12.
Reserves
(excluding Revaluation Reserves)
1063.39
215.69
1063.39
215.69
952.69
13.
Total
deposits
10047.94
8500.17
10047.94
8500.17
9866.02
14.
Total
advances (including Credit substitutes)
7637.40
4057.92
7637.40
4057.92
5030.96
15.
Basic
and diluted Earnings Per Share (not annualised)
For the
relevant period
For the
relevant quarter
Weighted
avg.
5.62
4.39
2.06
1.71
6.38
Notes:
Out of amortised
ADS issue expenditure, Rs. 7.93 crores has been charged off
during the period.
Net non-performing
assets to advances (including credit substitutes) is 1.32% (1.14%
as on 31.03.2000)
Item 5(c) includes
Rent, taxes and lighting Rs. 23.50 crores for 9 months ended
December 31, 2000 (Rs. 12.32 crores for 9 months ended December
31, 1999 and LY - Rs.18.01 crores). Other items included in
5(c) individually do not exceed 10% of total operating expenditure.
Investment portfolio
has been categorised into 'Held to Maturity', 'Available for
Sale' and 'Trading' since September 30, 2000.
The shareholders
of the Bank have at their Extraordinary General Meeting held
on Friday, January 19, 2001 approved the Scheme of Amalgamation
of Bank of Madura Ltd. with the Bank by the requisite majority
subject to the approval of the Reserve Bank of India and such
other authorities as may be required
Unaudited
financial results under US GAAP accounting
(Rupees
in crores)
Particulars
Nine
months ended
Three
months ended
Year
ended
Dec
31, 2000
Dec
31, 1999
Dec
31, 2000
Dec
31, 1999
Mar
31, 2000
Net income
under US GAAP
99.00
102.59
38.32
39.97
140.20
Reconciliation
between US GAAP and Accounting Standards followed in India
Profit under
Indian GAAP
110.70
72.36
40.50
28.26
105.30
Deferred taxation
19.75
(3.51)
1.35
(8.63)
(11.30)
Loan impairment
(10.57)
18.10
(3.94)
9.87
35.80
Mark to Market
impact on investments
(26.28)
21.51
2.00
10.17
2.10
ADR Issue expenditure
charged to
P & L A/c
7.93
—
2.55
—
9.90
Others
(2.53)
(5.87)
(4.14)
0.30
(1.60)
Profit under
US GAAP
99>
102.59
38.32
39.97
140.20
The above financial results have been taken
on record by the Board of Directors of the Bank at its meeting held on
January 23, 2001.
Place: Mumbai
Date: January 23, 2001
H.N.Sinor
Managing Director &
Chief Executive Officer