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AUDITED FINANCIAL RESULTS
FOR THE HALF-YEAR ENDED SEPTEMBER 2000
<TABLE>
(Rupees in crores)
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Sr. Half-year ended Three months ended Year ended
No. Particulars --------------------------------------------------------------------
Sept 30, Sept 30, Sept 30, Sept 30, Mar. 31,
2000 1999 2000 1999 2000
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<S> <C> <C> <C> <C> <C>
1. Interest Income 570.90 387.58 287.34 188.66 852.87
2. Other Income 65.35 54.99 34.12 31.71 194.05
3. Total Income 636.25 442.57 321.46 220.37 1046.92
4. Interest Expenditure 389.55 316.08 191.36 155.25 666.95
5. Total Operating Expenditure
(a) Staff Cost 23.32 13.71 11.29 6.87 36.37
(b) Depreciation 11.24 9.05 8.57 4.96 24.79
(c) Other Expenditure 91.73 29.62 51.70 15.39 92.15
6. Total Expenditure (4) + (5) 515.84 368.46 262.92 182.47 820.26
7. Gross Profit before tax and provisions 120.41 74.11 58.54 37.90 226.66
8. Provision for taxes 13.71 12.89 6.05 11.47 33.02
9. Other provisions 36.50 17.12 22.43 2.58 88.34
10. Net Profit 70.20 44.10 30.06 23.85 105.30
11. Paid up Equity Share Capital (face value 196.82 165.00 196.82 165.00 196.82
12. Reserves (excluding Revaluation Reserves) 1022.89 187.43 1022.89 187.43 952.69
13. Total deposits 9728.27 6579.70 9728.27 6579.70 9866.02
14. Total advances (including Credit 6324.20 3415.07 6324.20 3415.07 5030.96
15. Basic and diluted Earnings Per Share For the relevant half-yearFor the relevant quarter Weighted avg.
(not annualised) 3.57 2.67 1.53 1.45 6.38
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Notes:
1. Out of amortised ADS issue expenditure, Rs.5.38 crores has been charged off
during the half-year.
2. Net non-performing assets to advances (including credit substitutes) is
1.33% (1.14% as on 31.03.2000)
3. Item 5(c) includes Rent, taxes and lighting Rs.15.00 crores
(H1:1999-2000 - Rs.7.87 crores and LY - Rs.18.01 crores). Other items
included in 5(c) individually do not exceed 10% of total operating
expenditure.
4. Investment portfolio has been categorised into 'Held to Maturity',
'Available for Sale' and 'Trading' as on September 30, 2000
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Unaudited financial results under US GAAP accounting (Rupees in crores)
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Half-year ended Three months ended Year ended
Particulars --------------------------------------------------------------------
Sept 30, Sept 30, Sept 30, Sept 30, Mar. 31,
2000 1999 2000 1999 2000
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<S> <C> <C> <C> <C> <C>
Net income under US GAAP 60.68 62.62 16.08 36.18 140.20
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Reconciliation between US GAAP and Accounting Standards followed in India
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Profit under Indian GAAP 70.20 44.10 30.06 23.85 105.30
Deferred taxation 18.40 5.12 17.30 4.57 (11.30)
Loan impairment (6.63) 8.23 (2.67) 4.03 35.80
Mark to Market impact on investments (28.28) 11.34 (32.17) 7.02 2.10
ADR Issue expenditure charged to P & L A/c 5.38 .. 2.93 .. 9.90
Others 1.61 (6.17) 0.63 (3.29) (1.60)
Profit under US GAAP 60.68 62.62 16.08 36.18 140.20
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The above financial results have been taken on record by the Board of Directors
of the Bank at its meeting held on October 19, 2000.
Place: Mumbai H.N.Sinor
Date: October 19, 2000 Managing Director &
Chief Executive Officer
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ICICI Bank Limited
Registered Office: Landmark, Race Course Circle, Alkapuri, Vadodara - 390 007
Corporate Office: ICICI Towers, 4th Floor, South Tower,
Bandra-Kurla Complex, Bandra (East), Mumbai 400 051.
Web site: http://www.icicibank.com Electronic mail: [email protected]
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