REVIEW REPORT ON FINANCIAL RESULTS FOR THE QUARTER ENDED 31st December 2004
Rs in lacs
Quarter ended
9 months ended
Year ended
31.12.04 Reviewed
31.12.03 Reviewed
31.12.04 Reviewed
31.12.03 Reviewed
31.03.04 Audited
1
Interest earned (a+b+c+d)
42405
44444
130266
131239
173548
(a) Interest / discount on advances / bills
20153
20400
63129
62088
81714
(b) Income on investment
20787
22446
62026
65221
86795
(c) Interest on balances with Reserve Bank of India and other Inter Bank funds
1463
1045
5093
3374
4459
(d) Others
2
553
18
556
580
2
Other income
5373
14023
24061
42149
61741
A
Total income (1+2)
47778
58467
154327
173388
235289
3
Interest expended
25391
27874
80454
86247
114321
4
Operating expenses (e+f)
13615
12001
39416
35711
49909
(e) Payments to and provisions for employees
8885
8009
26063
23861
33878
(f) Other operating expenses
4730
3992
13353
11850
16031
B
Total expenditure (3+4) (Excluding provisions and contingencies)
39006
39875
119870
121958
164230
C
Operating Profit (A - B) ( Profit before provisions and contingencies)
8772
18592
34457
51430
71059
D
Provisions and contingencies
6879
7897
24056
24821
35256
- of which provisions for NPAs
4297
7076
18235
19997
30616
E
Provisions for Taxes
-399
3510
382
9398
12753
F
Net Profit (C - D - E)
2292
7185
10019
17211
23050
5
Paid up equity share capital
20682
20682
20682
20682
20682
6
Reserve excluding Revaluation Reserve (as per Balance Sheet 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 %
10.04
8.64
10.04
8.64
9.48
iii
Earning per share (Basic & diluted) Annualised - Rs.
4.43
13.90
6.46
11.10
11.14
iv
(a) Amount of gross Non Performing Assets
128141
166242
128141
166242
148401
(b) Amount of Net Non Performing Assets
73571
102605
73571
102605
88435
(c) % of gross NPAs to gross advances
11.91
17.65
11.91
17.65
14.82
(d) % of Net NPAs to Net advances
7.21
11.67
7.21
11.67
9.40
v
Return on Assets (Annualised) %
0.40
1.36
0.59
1.11
1.11
Aggregate of Non-Promoter Share holding
i
Number of shares
60,003,200
60,003,200
60003200
60003200
60003200
ii
% of share holding
29.01
29.01
29.01
29.01
29.01
SEGMENT WISE RESULTS
(Rs in crores)
Particulars
Quarter ended
9 months ended
Year ended
31.12.04 Reviewed
31.12.03 Reviewed
31.12.04 Reviewed
31.12.03 Reviewed
31.03.04 Audited
Segment Revenue
i) Treasury Operations
108.36
173.19
351.64
473.13
647.78
ii) Other Banking Operations
369.45
405.94
1191.71
1255.28
1699.82
Total
477.81
579.13
1543.35
1728.41
2347.60
Segment Results
i) Treasury Operations
30.41
91.74
108.05
178.31
263.65
ii) Other Banking Operations
9.44
29.95
71.37
143.65
171.28
Total
39.85
121.69
179.42
321.96
434.93
Unallocated Revenue
-0.03
5.47
-0.08
5.46
5.29
Unallocated Expenses
20.89
20.21
75.33
61.34
82.15
Operating Profit (Net Profit before Tax)
18.93
106.95
104.01
266.08
358.07
Income tax (including DTA)
-3.99
35.10
3.82
93.98
127.57
Net Profit
22.92
71.85
100.19
172.10
230.50
OTHER INFORMATION
Segment Assets
i) Treasury Operations
4476.11
5341.25
4476.11
5341.25
4944.41
ii) Other Banking Operations
17790.26
15428.89
17790.26
15428.89
16272.73
iii) Unallocated assets
718.89
681.24
718.89
681.24
725.81
Total assets
22985.26
21451.38
22985.26
21451.38
21942.95
Segment Liabilities
i) Treasury Operations
0.00
42.41
0.00
42.41
0.00
ii) Other Banking Operations
21647.40
20256.48
21647.40
20256.48
20704.71
iii) Unallocated liability
1337.86
1152.49
1337.86
1152.49
1238.24
Total Liabilities
22985.26
21451.38
22985.26
21451.38
21942.95
Note : The Bank has only one geographical segment i.e. Domestic.
NOTES :
1. Financial results have been prepared following generally the same Accounting Policies as those followed in preparation of financial statements for the year ended 31st March 2004. 2. The working results for the quarter ended 31.12.2004, have been arrived at after considering provision for (i) NPAs & Standard Assets (ii) Additional provision for NPAs (iii) terminal benefits to employees (iv) diminution in the value of investments (v) amortisation of VRS expenditure (vi) proposed wage revision, income tax, deferred tax and other contingencies etc., on estimated basis. 3. Reconciliation of entries outstanding as on 31.12.2004 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. 4. The position of Investors complaints for the quarter ended 31.12.2004 is : Complaints pending at the beginning of quarter - Nil, received & disposed off during the quarter - 44 , pending at the end of quarter - NIL . 5. The above results have been taken on record by the Board of Directors on 31st January, 2005. 6. The above results for the quarter ended December 2004 have been reviewed by the Auditors of the Bank, as per the listing agreement with the stock exchanges. 7. Corresponding figures have been regrouped/ reclassified, wherever necessary, to make them comparable with current results.
PLACE : MUMBAI DATE : 31st January, 2005
( M. V. Nair) Executive Director
(Dr. Anil K Khandelwal) Chairman & Managing Director
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