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Audited
Financial Results for the Year
ended on 31.03.2007
(Rs. in Lacs) |
PARTICULARS |
Quarter Ended
(Audited) |
Year Ended
(Audited) |
Year Ended (Audited)
(Consolidated) |
31.03.2007 |
31.03.2006 |
31.03.2007 |
31.03.2006 |
31.03.2007 |
31.03.2006 |
1. |
Interest Earned
(a) + (b) + (c) +(d) |
139410.41 |
103790.52 |
488386.28 |
376724.36 |
488386.00 |
376724.00 |
(a) |
Interest/discount on advances/bills |
95626.12 |
63623.49 |
324828.82 |
219139.32 |
324829.00 |
219139.00 |
(b) |
Income on investments |
40659.06 |
37193.78 |
153650.79 |
148842.52 |
153651.00 |
148842.00 |
(c) |
Interest on balances with Reserve Bank of India and
other inter bank funds |
3112.32 |
2072.32 |
8634.83 |
7039.54 |
8635.00 |
7040.00 |
(d) |
Others |
12.91 |
900.93 |
1271.84 |
1702.98 |
1271.00 |
1703.00 |
2. |
Other Income |
12518.75 |
14570.83 |
37640.21 |
48245.45 |
38335.00 |
49026.00 |
A. |
TOTAL INCOME
(1)+(2) |
151929.16 |
118361.35 |
526026.49 |
424969.81 |
526721.00 |
425750.00 |
3. |
Interest Expended |
90888.63 |
57918.86 |
313311.77 |
218979.63 |
313181.00 |
218656.00 |
4. |
Operating Expenses (e) + (f) |
28719.21 |
27028.80 |
102723.48 |
103575.33 |
102794.00 |
103799.00 |
(e) |
Payments to and provisions for employees |
17074.33 |
16746.35 |
62071.68 |
68109.83 |
62101.00 |
68130.00 |
(f) |
Other operating expenses |
11644.88 |
10282.45 |
40651.80 |
35465.50 |
40693.00 |
35669.00 |
B |
TOTAL EXPENDITURE (3) + (4) (excluding
Provisions and Contingencies) |
119607.84 |
84947.66 |
416035.25 |
322554.96 |
415975.00 |
322455.00 |
C. |
OPERATING PROFIT (A - B) (Profit before
Provisions and Contingencies) |
32321.32 |
33413.69 |
109991.24 |
102414.85 |
110746.00 |
103295.00 |
D. |
Provisions and Contingencies (Net) |
13020.06 |
17007.29 |
26452.84 |
26929.83 |
26313.00 |
26836.00 |
| |
---Of which Provisions for non-performing assets |
6000.00 |
4100.00 |
9000.00 |
7680.00 |
9000.00 |
7587.00 |
E. |
Provision for taxes |
6727.59 |
1356.72 |
8524.27 |
4872.48 |
8558.00 |
4910.00 |
F. |
Net Profit (C - D - E) |
12573.67 |
15049.68 |
75014.13 |
70612.54 |
75875.00 |
71549.00 |
5. |
Paid-up equity share capital |
44670.00 |
44670.00 |
44670.00 |
44670.00 |
44670.00 |
44670.00 |
6. |
Reserves excluding revaluation reserves |
314664.16 |
260308.26 |
314664.16 |
260308.26 |
326465.00 |
271248.00 |
7. |
Analytical Ratios |
(i) |
Percentage of shares held by Government of India (%) |
55.23 |
55.23 |
55.23 |
55.23 |
55.23 |
55.23 |
(ii) |
Capital Adequacy Ratio (%) |
12.52 |
13.37 |
12.52 |
13.37 |
12.76 |
13.92 |
(iii) |
Earning per share (Rs.) |
2.81* |
3.37* |
16.79 |
16.06 |
16.99 |
16.28 |
(iv) |
(a) Amount of Gross Non-performing assets |
109359 |
118383 |
109359 |
118383 |
109362 |
118481 |
| |
(b) Amount of Net Non-performing assets |
44019 |
24609 |
44019 |
24609 |
44021 |
24635 |
| |
(c ) % of Gross NPAs |
2.61 |
3.94 |
2.61 |
3.94 |
2.61 |
3.94 |
| |
(d) % of Net NPAs |
1.07 |
0.84 |
1.07 |
0.84 |
1.07 |
0.84 |
(v) |
Return on Assets (annualised) |
0.77 |
1.14 |
1.26 |
1.42 |
1.25 |
1.44 |
8. |
Aggregate of Non-promoter share holding |
|
|
|
|
|
|
| |
-- Number of shares |
200000000 |
200000000 |
200000000 |
200000000 |
200000000 |
200000000 |
| |
--Percentage of share holding |
44.77 |
44.77 |
44.77 |
44.77 |
44.77 |
44.77 |
9. |
Number of investor complaints |
|
|
|
|
|
Notes forming part of Audited Financial
Results
For the Year Ended 31st March, 2007
1. The above results have been taken on record by the Board of Directors
at its meeting held on 5th May, 2007.
2. The working results for the year ended 31st March 2007 have been
arrived at after considering provision for Non Performing Assets, Standard Assets and
Investment Depreciation on the basis of Prudential norms issued by Reserve Bank of India
guidelines. The prudential floating provision of Rs. 48.00 crores is held as at 31.03.2007
in respect of gross Non-performing advances over and above the minimum provision
prescribed by RBI with a view to strengthening the financial stability of the Bank. In
respect of Pension, Gratuity, and Leave Encashment provision has been made on the basis of
Actuarial Valuation.
3. Provision for taxes includes adjustment for deferred tax in
accordance with the Accounting Standard (AS)22 - Taxes on Income.
4. During the financial year 2005-06, the Bank had transferred Rs.49.79
crores representing various old credit balances in balancing of books to Other Income and
an equivalent amount was also transferred to Revenue Reserve. The Bank sought post facto
approval from Reserve Bank of India in the matter. Reserve Bank of India has not, however,
given post facto approval and advised the Bank to reverse the entry to the respective
head. Accordingly, the Bank has reversed the entry during the current year 2006-07
appropriating the Profit & Loss Account and credited back the same to the respective
head.
5. The Segment Report has been prepared based on the stand-alone
financial information of the Bank and also on the consolidated financial statements.
6. Status of Investor Complaints : (a) Received during the year : 3665
(b) Disposed off during the year : 3665 (c) Pending as on 31st March, 2007 : NIL
7. During the year the Bank has proposed final dividend @ 30% on capital
of Rs.446.70 crores.
8. Figures of previous year have been regrouped or reclassified wherever
considered necessary.
(A. C. Mahajan)
Chairman & Managing Director
|
|
(Subodh Kumar Goel)
Executive Director
|
|
|
|
(M.
M. Neogy)
General Manager
(Finance & Accounts) |
Place :
Kolkata
Date : 05.05.2007 |
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