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 :

  1. Out of amortised ADS issue expenditure, Rs.2.45 crores has been charged off during the quarter.
  2. 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.
  3. Net non-performing assets on advances (including credit substitutes) is 1.16% (1.14% as on 31.03.2000)
  4. 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