June 2005
REPORT ON FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2005

 

 

Quarter ended

Year ended

 

30.06.05 Provisional

30.06.04 Reviewed

31.03.05 Audited

1

Interest earned (a+b+c+d)

43986

43658

172518

 

(a)Interest / discount on advances / bills

23786

21484

85637

 

(b)Income on investment

19512

20628

81099

 

(c)Interest on balances with Reserve Bank of India and other Inter Bank funds

685

1537

4525

 

(d)Others

3

9

1257

2

Other income

7772

9502

31118

A

Total income(1+2)

51758

53160

203636

3

Interest expended

25081

27063

103858

4

Operating expenses (e+f)

14270

14089

61560

 

(e) Payments to and provisions for employees

9363

9869

42041

 

(f)Other operating expenses

4907

4220

19519

B

Total expenditure(3+4)

(Excluding provisions and contingencies)

39351

41152

165418

C

Operating Profit(A -B)

( Profit before provisions and contingencies)

12407

12008

38218

D

Provisions and contingencies

32342

7811

38696

 

-of which provisions for NPAs

9494

7441

27557

E

Provisions forTaxes incl. DTA / FBT

(-) 1005

525

-6578

F

Net Profit (C -D - E)

(-)18930

3672

6100

5

Paid up equity share capital

28682

20682

28682

6

Reserve excluding Revaluation Reserve (as per Balance Sheet of previous accounting year)

70576

72605

70576

 

(Excluding debit balance in Profit & Loss a/c)

0

-21729

0

Analytical Ratios

i

Percentage of shares held by Govt. of India

51.19

70.99

51.19

ii

Capital Adequacy Ratio%

9.52

9.97

11.91

iii

Earning per share (Basic & diluted)

Not Annualised-Rs.

(-)6.60

1.78

2.82

iv

(a) Amount of gross Non Performing Assets

114930

151056

114754

 

(b)Amount of Net Non Performing Assets

53115

85389

59100

 

(c)%of gross NPAs to gross advances

9.70

14.52

9.67

 

(d)%of Net NPAs to Net advances

4.73

8.76

5.23

v

Return on Assets (Annualised)%

-ve

0.65

0.26

Aggregate of non promoter share holding

i

Number of shares

140003200

60003200

140003200

ii

% of shareholding

48.81

29.01

48.81



SEGMENT WISE RESULTS

                                                                                                (Rs in crores)

 

Quarter ended

Year ended

 

30.06.05 Provisional

30.06.04 Reviewed

31.03.05 Audited

REVENUE

i) Treasury Operations

 

101.40

 

122.75

 

456.73

ii) Other Banking Operations

416.20

408.86

1567.49

Total

517.60

531.61

2024.22

RESULT

i) Treasury Operations

 

-23.24

 

36.90

 

122.48

ii) Other Banking Operations

-173.96

38.84

-60.43

Total

-197.20

75.74

62.05

Unallocated Revenue

-0.02

-0.01

12.14

Unallocated Expenses

2.13

33.76

78.94

Operating Profit (Net Profitbefore Tax)

-199.35

41.97

-4.75

Income tax(including DTA / FBT)

-10.05

5.25

-65.75

NetProfit

-189.30

36.72

61.00

ASSETS

i) Treasury Operations

 

3834.99

 

5080.66

 

4535.12

ii) Other Banking Operations

19726.25

17378.01

18863.30

iii) Unallocated assets

648.96

732.88

630.17

Totalassets

24210.20

23191.55

24028.59

LIABILITIES

i) Treasury Operations

 

0.00

 

0.00

 

0.00

ii) Other Banking Operations

23137.71

21897.49

22764.42

iii) Unallocated liability

1072.49

1294.06

1264.17

Total Liabilities

24210.20

23191.55

24028.59

 

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 2005.

2.      The working results for the quarter ended 30.06.2005, have been arrived at after considering provision for NPAs & Standard Assets, terminal benefits to employees, diminution in the value of investments, income tax, deferred tax, fringe benefit tax and other contingencies etc.

3.     During the quarter ended 30th June 2005, The Bank has shifted part of the 
      securities from Available for Sale Category to Held to Maturity category as per RBI
      guidelines and has also booked depreciation to the tune of Rs. 199.71 crores
      arising out of shifting of securities
.

4.      Reconciliation of entries outstanding as on 30.06.2005 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.

5.      The position of Investors complaints for the quarter ended 30.06.2005 is :
Complaints pending at the beginning of quarter-NIL,
Received & disposed off during the quarter- 162,
Pending at the end of quarter-NIL .

6.      Theabove results have been taken on record by the Board of Directorson 30th July, 2005.

7.      Corresponding figures have been regrouped/ reclassified, wherever necessary, to make them comparable with currentresults.

 

 

 

 

( M. V. Nair)

              Chairman & Managing Director

 

PLACE : MUMBAI

DATE:30th July, 2005