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| PERFORMANCE OF IDBI DURING THE QUARTER/ 15 MONTH PERIOD ENDED JUNE 30, 2004 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA
AUDITED FINANCIAL RESULTS FOR THE
QUARTER / FIFTEEN MONTHS ENDED JUNE 30, 2004
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(Rs.
Cr.)
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| Sr.
No.
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Particulars
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Quarter
ended
30-6-2004
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Quarter
ended
30-6-2003
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Fifteen
months ended
30-6-2004
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Year
ended
31-3-2003
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|
1
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Income
from operations
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1340 |
1575 |
8175 |
7337 |
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2
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Other
income
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39 |
23 |
182 |
144 |
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3
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Total
Expenditure
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(a)
Staff cost
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25 |
22 |
129 |
88 |
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(b)
Bond issue expenses w/off
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21 |
14 |
93 |
72 |
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(c)
Other expenditure
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25 |
23 |
131 |
123 |
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Total
expenditure (except interest cost)
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71 |
59 |
353 |
283 |
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4
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Interest
cost
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1177 |
1193 |
5892 |
5434 |
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5
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Profit
before Depreciation and Provisions (1+2-3-4)
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131 |
346 |
2112 |
1764 |
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6
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Depreciation
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97 |
45 |
206 |
199 |
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7
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Bad
and doubtful debts/ investments written-off/provided
for
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21 |
230 |
1561 |
1110 |
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8
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Profit
before tax (5-6-7)
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13 |
71 |
345 |
455 |
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9
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Provision
for taxation
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2 |
14 |
67 |
92 |
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10
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Deferred
tax debit / (credit)
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(12) |
6 |
(70) |
(38) |
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11
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Net
profit (8-9-10)
|
23 |
51 |
348 |
401 |
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12
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Paid
up Equity Share Capital (Face value Rs.10 per
share)
|
653 |
653 |
653 |
653 |
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13
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Reserves
excluding Revaluation Reserves
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6292 |
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14
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Earning
Per Share (Rs.)- Basic/ Diluted
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0.36 |
0.78 |
5.34 |
6.15 |
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15
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Aggregate
of Non-promoter Shareholding
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-Number of shares
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271102400 |
271102400 |
271102400 |
271102400 |
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-Percentage of shareholding
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41.53 |
41.53 |
41.53 |
41.53 |
- The above results have been taken on record
by the Board of Directors at their meeting
held on July 29, 2004.
- The Industrial Development Bank (Transfer
of Undertaking and Repeal) Act, 2003 envisages
that with effect from appointed day the undertaking
of IDBI will be transferred to, and vest in,
the Industrial Development Bank of India Limited
which shall carry on banking business in addition
to the business which may be carried on by
the Development Bank. The appointed day is
yet to be notified. The Act has come into
force with effect from July 2, 2004.
- The current accounting year has been extended
by a period of six months i.e. upto September
30, 2004.
- The working results for quarter / fifteen months period ended June 30, 2004 have been arrived at after considering provisions for Bad & Doubtful Debts, Income Tax (after considering deferred tax adjustments as per AS-22 of ICAI) and other usual and necessary provisions on an estimated basis.
- In respect of stressed assets as on March 31, 2004 to be transferred to Stressed Asset Stabilization Fund, for which Government of India has made a provision of Rs. 9000 Crore in the Budget for FY 2004-05, no further provision for non-performing assets has been made and recovery from these assets has not been considered as income for the quarter ended June 30, 2004.
- There are no reportable segments under Accounting Standard 17 as the bank's operations predominantly comprise of only one segment i.e. Wholesale Banking.
- There were 191 investor grievances pending as on April 1, 2004. During the quarter, the bank received 21957 investor grievances. Out of the aggregate 22148 grievances, 22050 have been redressed during the quarter and 98 grievances are pending for resolution at the end of the quarter.
- The figures of the previous year / period have been regrouped wherever required.
- Current period's figure are for the fifteen months and hence are strictly not comparable with those of the previous year which are for a period of twelve months.
By Order of the Board
Sd/-
(M. Damodaran)
Chairman and Managing Director
Place : Hyderabad
Date : July 29, 2004 |
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