Axis Bank Regs Regulatory News (AXB)

13 Oct 2006 14:22

UTI Bank Limited13 October 2006 13/10/2006 BOARD MEETING OF UTI BANK TO CONSIDER UNAUDITED QUARTERLY / HALF YEARLY FINANCIAL RESULTS FOR THE QUARTER (Q2) / HALF YEAR (H1) ENDED 30TH SEPTEMBER, 2006 Pursuant to the provisions of clause 41 of the Listing Agreement, we encloseherewith a copy of the UNAUDITED QUARTERLY/HALF YEARLY FINANCIAL RESULTS FOR THEQUARTER (Q2)/HALF YEAR (H1) ENDED 30TH SEPTEMBER, 2006 of the Bank in theprescribed format. The said results are taken on record by the Board of Directors of the Bank atits meeting held today at Mumbai. P. J. OzaCompany Secretary &Vice President (HR)UTI Bank LimitedMumbaiIndia UTI Bank Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380 006. UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2006 (Rs. in crores) FOR THE QUARTER FOR THE QUARTER FOR THE FOR THE FOR THE YEAR PARTICULARS ENDED ENDED HALF YEAR ENDED HALF YEAR ENDED ENDED 30.09.2006 30.09.2005 30.09.2006 30.09.2005 31.03.2006 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1. Interest earned (a)+(b)+ 1,050.09 687.60 2,004.01 1,309.44 2,888.79(c)+(d)(a) Interest/discount on 611.00 354.06 1,161.34 675.21 1,528.04advances/bills(b) Income on Investments 416.49 319.40 792.03 605.40 1,285.68(c) Interest on balances withReserve Bank of India and otherinter-bank funds 12.64 8.48 29.08 17.09 41.64(d) Others 9.96 5.66 21.56 11.74 33.432. Other Income 204.77 178.13 429.27 328.14 729.63A. TOTAL INCOME (1+2) 1,254.86 865.73 2,433.28 1,637.58 3,618.423. Interest Expended 684.92 432.15 1,317.00 831.51 1,810.564. Operating expenses (e)+ 295.45 197.50 534.61 366.51 814.05(f)(e) Payments to and provisions 98.07 62.32 177.76 115.50 240.20for employees(f) Other operating expenses 197.38 135.18 356.85 251.01 573.85B. TOTAL EXPENDITURE (3)+(4)(Excluding Provisions andContingencies) 980.37 629.65 1,851.61 1,198.02 2,624.61C. OPERATING PROFIT (A-B)(Profit before Provisions andContingencies) 274.49 236.08 581.67 439.56 993.81D. Other Provisions and 58.76 71.62 183.57 135.16 262.52Contingencies (Net) - of which provisions forNon-performing assets 21.39 53.39 35.17 96.48 127.06 E. Provision for Taxes 73.75 55.45 135.57 102.76 246.21F. Net Profit (C-D-E) 141.98 109.01 262.53 201.64 485.085. Paid-up equity share 280.51 278.46 280.51 278.46 278.69capital6. Reserves excluding 2,593.50revaluation reserves (as perbalance sheet of previousaccounting year)7. Analytical Ratios (i) Percentage ofShares held by Government of India NIL NIL NIL NIL NIL (ii) Capital Adequacy 11.52% 11.77% 11.52% 11.77% 11.08%Ratio (iii) Earnings per Sharefor the period / year- Basic 5.07 3.93 9.38 7.27 17.45- Diluted 4.97 3.86 9.19 7.15 17.08 (iv) (a) Amount of Gross 438.92 431.33 438.92 431.33 377.95Non-performing assets (b) Amount of Net Non-performing 263.85 257.05 263.85 257.05 219.83 assets (c) % of Gross NPAs 1.22 1.72 1.22 1.72 1.28 (d) % of Net NPAs 0.74 1.03 0.74 1.03 0.75 (e) Return on Assets 0.99 1.09 0.96 1.07 1.18(annualized)8. Aggregate Non-promotershareholding - Number of shares 203,268,736 201,210,913 203,268,736 201,210,913 201,445,657- Percentage ofshareholding 72.46% 72.26% 72.46% 72.26% 72.28% Notes : 1. The results above have been taken on record by the Board of Directors of the Bank at its meeting held at Mumbai today. 2. 'Other income' includes gains from securities' transactions, commission earned from guarantees/letters of credit, fees earned from providing services to customers, selling of third party products and ATM sharing fees. 3. Pursuant to the change in provisioning requirements for certain classes of standard assets from 0.40% to 0.70% for the half year ended 30.9.2006 as notified by RBI through its circular dated 12th July 2006, there has been an impact of an additional provision of Rs. 18.59 crores during the half year ended 30th September, 2006. 4. Disclosure about investor complaints: Complaints at the Received during the quarter Disposed off during the Unresolved as on beginning of the quarter 30.09.2006 quarter 2 126 126 2* * Resolved in the first week of October, 2006 5. These results for the half year ended 30th September 2006, have been subjected to a "Limited Review" by the Statutory Auditors of the Bank. 6. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures. Place : Mumbai P.J. NAYAK Date : 13.10.2006 CHAIRMAN & MANAGING DIRECTOR www.utibank.com This information is provided by RNS The company news service from the London Stock Exchange