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Financials

FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2003

(Rs. Cr.)

Sr. no	Particulars	Year Ended		Three months ended
		31-03-03	31-03-02	31-03-03	31-03-02
		(Audited)	(Audited)	(Unaudited)	(Unaudited)
1	Income from operations	7337	7804	1840	1838
2	Other income	144	145	62	53
3	Total Expenditure
	(a) Staff cost	88	108	26	21
	(b) Bond issue expenses w/off	72	66	25	17
	(c) Other Expenditure	123	114	30	24
	Total Expenditure (except Interest cost)	283	288	81	62
4	Interest Cost	5434	6250	1061	1482
5	Profit before Depreciation and provisions (1+2-3-4)	1764	1411	761	347
6	Depreciation	199	223	45	55
7	Bad and doubtful debts/ investments written-off/ provided for	1110	773	450	129
8	Profit before tax (5-6-7)	455	415	267	163
9	Provision for taxation	92	10	74	0
10	Deferred tax credit	38	19	16	19
11	Net profit (8-9+10)	401	424	209	182
12	Paid up Equity Share Capital (Face value Rs. 10 per share)	653	653	653	653
13	Reserves excluding Revaluation Reserves	6292	6001
14	Accelerated write-off of bad and doubtful debts by withdrawal from Special Reserve unde Sec 36(i)(viii) of I.T. Act, 1961	0	2500
15	Earning Per Share (In Rs.) (Basic/diluted)	6.15	6.50	3.20	2.79

CONSOLIDATED AUDITED FINANCIAL RESULTS OF IDBI AND ITS SUBSIDIARIES

(Rs.in Cr.)

Sr.No.	Particulars	Year ended 31-03-03	Year ended 31-03-02
1	Income from operations	8383	8799
2	Other Income	201	191
3	Total expenditure
	(a) Staff cost	156	161
	(b) Bond issue expenses w/off	72	66
	(c) Other expenditure	245	182
	Total expenditure (except interest cost)	473	409
4	Interest Cost	5948	6696
5	Profit before Depreciation and Provisions (1+2-3-4)	2163	1885
6	Depreciation	227	247
7	Bad and doubtful debts /investments written-off / provided for	1159	825
8	Profit before tax (5-6-7)	777	813
9	Provision for taxation	275	171
10	Deferred tax credit	41	26
11	Net profit (8-9+10)	543	668
11	(a) Share of (profits) / losses of minority shareholders	33	41
12	Paid up Equity Share Capital	653	653
	Fully paid shares (face value Rs.10 per share)
13	Reserves excluding Revaluation Reserves as per Balance sheet	6892	6388
14	Accelerated write-off of bad and doubtful debts by withdrawal from Special Reserve under Sec 36(i)(viii) of I.T. Act,1961	0	2500
15	Earning Per Share (in Rs.) ( Basic /Diluted)	8.33	10.23

CONSOLIDATED SEGMENTAL INFORMATION OF IDBI AND ITS SUBSIDIARIES
(Rs.in Cr.)

Sr.No.	Particulars	Year ended 31-03-03	Year ended 31-03-02
1	Segment Revenue
	Wholesale banking	6678	7448
	Treasury	737	711
	Others	180	74
	TOTAL	7595	8233
	Less :- Inter-segment revenue	170	68
	Net income from operations	7425	8165

2	Segment Results -Profit/(loss) before tax
	Wholesale banking	365	464
	Treasury	415	425
	Others	11	-27
	Total	791	862
	Less: Other unallocable expenditure net of unallocable income	14	49
	Total profit before tax	777	813
	Income taxes	234	145
	Net Profit	543	668

3	Segment assets
	Wholesale banking	67331	70819
	Treasury	3450	3162
	Others	3327	1309
	Total assets	74108	75290

Notes:

The above results have been taken on record by the Board of Directors at their meeting held on May 7, 2003.
Dividend at Rs.1.50 per share on equity shares for FY 2002-03 has been proposed by the Board for adoption at the AGM.
The requirement of provisions/write-off for loans and advances has generally been determined on the basis of the RBI guidelines on asset classification and provisioning and keeping in view the record of recovery and other relevant factors.
The interest cost for FY 2002-03 is net of credit of Rs. 354.37 crores being the amount reimbursible by GOI.
The figures of the previous year have been regrouped and adjusted wherever required.