Sept 2004
Sept 2004
UNAUDITED (REVIEWED) REPORT ON FINANCIALRESULTS
FOR THE QUARTER / HALF YEAR ENDED 30th SEPTEMBER 2004
| Rs in lacs |
| | | Quarter ended | Half year ended | Year ended | ||
| 30.09.04 Reviewed | 30.09.03 Reviewed | 30.09.04 Reviewed | 30.09.03 Reviewed | 31.03.04 Audited | ||
| 1 | Interest earned(a+b+c+d) | 44203 | 44032 | 87861 | 86795 | 173548 |
| | (a)Interest / discounton advances / bills | 21492 | 20858 | 42976 | 41688 | 81714 |
| | (b)Income on investment | 20611 | 22000 | 41239 | 42775 | 86795 |
| | (c)Interest on balances with Reserve Bank of India and other Inter Bank funds | 2093 | 1172 | 3630 | 2329 | 4459 |
| | (d)Others | 7 | 2 | 16 | 3 | 580 |
| 2 | Other income | 9186 | 17033 | 18688 | 28126 | 61741 |
| A | Total income(1+2) | 53389 | 61065 | 106549 | 114921 | 235289 |
| 3 | Interest expended | 28000 | 29254 | 55063 | 58373 | 114321 |
| 4 | Operating expenses(e+f) | 12963 | 12212 | 25802 | 23710 | 49909 |
| | (e) Payments to and provisions for employees | 8559 | 8030 | 17178 | 15852 | 33878 |
| | (f)Other operating expenses | 4404 | 4182 | 8624 | 7858 | 16031 |
| B | Total expenditure(3+4) (Excluding provisions and contingencies) | 40963 | 41466 | 80865 | 82083 | 164230 |
| C | Operating Profit(A -B) ( Profit before provisions and contingencies) | 12426 | 19599 | 25684 | 32838 | 71059 |
| D | Provisions and contingencies | 8115 | 8213 | 17176 | 16924 | 35256 |
| | -of which provisions for NPAs | 6497 | 6405 | 13938 | 12871 | 30616 |
| E | Provisions for Taxes | 256 | 4280 | 781 | 5888 | 12753 |
| F | Net Profit (C -D - E) | 4055 | 7106 | 7727 | 10026 | 23050 |
| 5 | Paid up equity share capital | 20682 | 20682 | 20682 | 20682 | 20682 |
| 6 | Reserve excluding Revaluation Reserve (as per BalanceSheet of previous accounting year) | 72605 | 65690 | 72605 | 65690 | 72605 |
| | (Excluding debit balance in Profit & Loss a/c) | -21729 | -35234 | -21729 | -35234 | -21729 |
| 7. Analytical Ratios | ||||||
| i | Percentage of shares held by Govt. of India | 70.99 | 70.99 | 70.99 | 70.99 | 70.99 |
| ii | Capital Adequacy Ratio% | 10.28 | 8.09 | 10.28 | 8.09 | 9.48 |
| iii | Earning per share (Basic&diluted) Annualised-Rs. | 7.84 | 13.74 | 7.47 | 9.70 | 11.14 |
| iv | (a) Amount of gross Non Performing Assets | 137943 | 162716 | 137943 | 162716 | 148401 |
| | (b)Amount of Net Non Performing Assets | 76364 | 99063 | 76364 | 99063 | 88435 |
| | (c)%of gross NPAs to gross advances | 13.35 | 17.99 | 13.35 | 17.99 | 14.82 |
| | (d)%of Net NPAs toNet advances | 7.85 | 11.76 | 7.85 | 11.76 | 9.40 |
| V | Return on Assets(Annualised)% | 0.70 | 1.38 | 0.68 | 0.99 | 1.11 |
| Aggregate of Non-Promoter Shareholding | ||||||
| I | Numberofshares | 60,003,200 | 60,003,200 | 60003200 | 60003200 | 60003200 |
| Ii | %ofshareholding | 29.01 | 29.01 | 29.01 | 29.01 | 29.01 |
SEGMENT WISE RESULTS
| (Rs in crores) |
| Particulars | Quarter ended | Half year ended | Year ended 31.03.04 Audited | ||
| | 30.09.04 Reviewed | 30.09.03 Reviewed | 30.9.04 Reviewed | 30.09.03 Reviewed | |
| Segment Revenue | |||||
| i) Treasury Operations | 120.53 | 172.75 | 243.28 | 299.94 | 647.78 |
| ii) Other Banking Operations | 413.40 | 437.97 | 822.26 | 849.34 | 1699.82 |
| Total | 533.93 | 610.72 | 1065.54 | 1149.28 | 2347.60 |
| Segment Results | |||||
| i) Treasury Operations | 40.74 | 44.79 | 77.64 | 86.57 | 263.65 |
| ii) Other Banking Operations | 23.09 | 90.34 | 61.93 | 113.70 | 171.28 |
| Total | 63.83 | 135.13 | 139.57 | 200.27 | 434.93 |
| Unallocated Revenue | -0.04 | 0.00 | -0.05 | 0.00 | 5.29 |
| Unallocated Expenses | 20.68 | 21.27 | 54.44 | 41.13 | 82.15 |
| Operating Profit(Net Profitbefore Tax ) | 43.11 | 113.86 | 85.08 | 159.14 | 358.07 |
| Income tax(including DTA) | 2.56 | 42.80 | 7.81 | 58.88 | 127.57 |
| NetProfit | 40.55 | 71.06 | 77.27 | 100.26 | 230.50 |
| OTHER INFORMATION | |||||
| Segment Assets | |||||
| i) Treasury Operations | 4595.26 | 5327.29 | 4595.26 | 5327.29 | 4944.41 |
| ii) Other Banking Operations | 17851.37 | 14904.87 | 17851.37 | 14904.87 | 16272.73 |
| iii) Unallocatedassets | 727.76 | 706.35 | 727.76 | 706.35 | 725.81 |
| Totalassets | 23174.39 | 20938.51 | 23174.39 | 20938.51 | 21942.95 |
| Segment Liabilities | |||||
| i) Treasury Operations | 0.00 | 27.99 | 0.00 | 27.99 | 0.00 |
| ii) Other Banking Operations | 21850.18 | 19860.75 | 21850.18 | 19860.75 | 20704.71 |
| iii) Unallocatedliability | 1324.21 | 1049.77 | 1324.21 | 1049.77 | 1238.24 |
| Total Liabilities | 23174.39 | 20938.51 | 23174.39 | 20938.51 | 21942.95 |
| Note :The Bank has only one geographical segment i.e. Domestic. NOTES : 1.The working results for the quarter ended 30.09.2004, have been arrived at after considering provision for (i)NPAs& StandardAssets(ii)Floatingprovision for NPAs (iii)terminal benefitstoemployees(iv) diminution in the value of investments (v) amortisationof VRS expenditure (vi) proposed wage revision, income tax, deferred tax and other contingencies etc., on estimated basis. 2.Reconciliation of entries outstanding as on 30.09.2004 in Inter Bank/ Inter Branch and other accounts are in progress and in the opinion of the management, consequential impact thereof on revenue/assets/liabilities is not material. 3.The position of Investors complaints for the quarter ended 30.09.2004 is:Complaints pending at the beginning of quarter-Nil,received& disposed offduring the quarter- 32,pending at the end of quarter-NIL .4.Theabove resultshave been taken on record by the BoardofDirectorson 30th October 2004. 5.The above results for the quarter ended September 2004 have been reviewed by the Auditors of the Bank, as per the listing agreement with the stock exchanges. 6.Correspondingfigures have been regrouped/ reclassified, wherever necessary, to make them comparable with currentresults. ( M. V. Nair)(Dr. Anil KKhandelwal) Executive DirectorChairman & Managing Director PLACE : MUMBAI DATE:30th October, 2004 |
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