Final Results

21 Apr 2008 13:14

Axis Bank Limited21 April 2008 Axis Bank Regd. Office : 'Trishul', 3rd floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad - 380 006. AUDITED ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31st MARCH, 2008 (Rs. in crores) Axis Bank Axis Bank (Consolidated) PARTICULARS FOR THE FOR THE FOR THE FOR THE FOR THE FOR THE QUARTER QUARTER YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED 31.03.2008 31.03.2007 31.03.2008 31.03.2007 31.03.2008 31.03.2007 (Unaudited) (Unaudited) (Audited) (Audited) (Audited) (Audited) 1. Interest earned (a)+(b)+ 2,015.43 1,341.51 7,005.31 4,461.65 7,005.08 4,461.64 (c)+(d)(a) Interest/discount on advances 1,370.09 836.21 4,745.65 2,702.85 4,745.42 2,702.84 /bills(b) Income on Investments 592.73 456.90 2,102.31 1,632.72 2,102.31 1,632.72(c) Interest on balances with Reserve Bank of India and other inter-bank funds 37.56 34.71 107.64 77.30 107.64 77.30(d) Others 15.05 13.69 49.71 48.78 49.71 48.782. Other Income 556.47 301.10 1,795.49 1,010.11 1,795.92 1,009.913. TOTAL INCOME (1+2) 2,571.90 1,642.61 8,800.80 5,471.76 8,801.00 5,471.554. Interest Expended 1,187.00 902.54 4,419.96 2,993.32 4,419.84 2,993.175. Operating expenses (i)+ 662.06 343.03 2,154.92 1,214.59 2,166.71 1,219.36 (ii)(i) Employees cost 184.45 88.93 670.25 381.35 752.10 391.18(ii) Other operating 477.61 254.10 1,484.67 833.24 1,414.61 828.18 expenses6. TOTAL EXPENDITURE (4)+(5) (Excluding Provisions and Contingencies) 1,849.06 1,245.57 6,574.88 4,207.91 6,586.55 4,212.537. OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies) 722.84 397.04 2,225.92 1,263.85 2,214.45 1,259.028. Provisions (other than tax) and Contingencies (Net) 164.22 81.25 579.64 267.61 579.64 267.619. Exceptional Items - - - - - -10. Profit/(Loss) from Ordinary 558.62 315.79 1,646.28 996.24 1,634.81 991.41 Activities before Tax (7-8-9)11. Tax expense 197.22 103.90 575.25 337.21 575.67 337.1612. Net Profit/(Loss) from Ordinary Activities after Tax 361.40 211.89 1,071.03 659.03 1,059.14 654.2513. Extraordinary Items (net of - - - - - - tax expense)14. Net Profit/(Loss) for the 361.40 211.89 1,071.03 659.03 1,059.14 654.25 period (12-13)15. Paid-up equity share capital 357.71 281.63 357.71 281.63 357.71 281.63 (face value Rs. 10/- per share)16. Reserves excluding 8,410.79 3,111.60 8,394.13 3,106.82 revaluation reserves17. Analytical Ratios (i) Percentage of Shares held by Government of India NIL NIL NIL NIL NIL NIL (ii) Capital Adequacy 13.73% 11.57% 13.73% 11.57% Ratio (iii) Earnings per Share (EPS) for the period / year (before and after extraordinary items) - Basic 10.11 7.56 32.15 23.50 31.80 23.33 - Diluted 9.89 7.33 31.31 22.79 30.96 22.63 (iv) NPA Ratios (a) Amount of Gross Non-performing assets 494.61 418.67 494.61 418.6 (b) Amount of Net Non-performing assets 248.29 266.33 248.29 266.33 (c) % of Gross NPAs 0.72 0.95 0.72 0.95 (d) % of Net NPAs 0.36 0.61 0.36 0.61 (e) Return on Assets 1.43 1.24 1.24 1.10 (annualized)18. Public Shareholding - Number of shares 192,605,887 148,241,566 192,605,887 148,241,566 - Percentage of shareholding 53.84% 52.64% 53.84% 52.64% Notes: 1. The results above have been approved by the Board of Directors of the Bank at its meeting held at Mumbai today. 2. The Board of Directors has recommended a dividend of Rs. 6.00 per share (60%) for the year ended 31st March 2008 (previous year Rs.4.50 per share (45%)), subject to the approval of the members at the ensuing Annual General Meeting. 3. 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. 4. Provisions (other than tax) include a contingent provision of Rs. 71.97 crores created during the current quarter against receivables in respect of derivative transactions. 5. Disclosure about investor complaints: Complaints at the beginning Received during the Disposed off during the Unresolved as on of the quarter quarter quarter 31.03.2008 - 125 123 2* * Resolved in the first week of April, 2008 6. Previous year's figures have been regrouped and reclassified, where necessary, to make them comparable with current year's figures. Place: Mumbai P.J. NAYAKDate: 21.04.2008 CHAIRMAN & CEO www.axisbank.com AXIS BANK Segmental Results (Rs in crores) Axis Bank Axis Bank (Consolidated) For the For the For the year For the For the year For the year quarter quarter ended year ended ended ended ended ended 31-3-2008 31-3-2007 31-03-07 31-3-2008 31-3-2007 31-03-08 1 Segment Revenue a Treasury 3,462.14 2,639.12 12,491.41 8,776.63 12,491.36 8,776.63 b Corporate/Wholesale Banking 1,369.57 1,686.75 4,778.01 4,778.01 5,312.13 5,311.92 c Retail Banking 1,331.33 4,260.23 4,260.48 d Other Banking Business 6.38 (9.52) (9.52) Total 6,169.42 4,325.87 21,520.13 14,088.76 21,520.33 14,088.55 Less Inter segment revenue 3,597.52 2,683.26 12,719.33 8,617.00 12,719.33 8,617.00 Income from Operations 2,571.90 1,642.61 8,800.80 5,471.76 8,801.00 5,471.55 2 Segment Results After Provisions & Before Tax a Treasury 105.56 1.52 347.80 226.46 342.97 226.46 b Corporate/Wholesale Banking 352.39 1,190.02 1,190.02 314.27 769.78 c Retail Banking 106.95 130.64 124.00 764.95 d Other Banking Business (6.28) (22.18) (22.18) Total Profit Before Tax 558.62 315.79 1,646.28 996.24 1,634.81 991.41 3 Capital Employed a Treasury 1,242.06 (2,734.81) 1,242.06 (2,734.81) 1,416.46 (2,744.80) b Corporate/Wholesale Banking 18,530.45 6,128.04 18,530.45 18,345.30 6,128.04 6,133.25 c Retail Banking (12,077.37) (12,077.37) (12,083.28) d Other Banking Business 1,073.36 1,073.36 1,073.36 Total 8,768.50 3,393.23 8,768.50 3,393.23 8,751.84 3,388.45 Notes: 1. Effective 1st April 2007, the Bank has adopted RBI's revised guidelinesissued in April 2007 on segment reporting in terms of which the reportablesegments have been changed to Treasury, Corporate / Wholesale Banking, RetailBanking and Other Banking Business. 2.Segmental results relating to the corresponding previous-year period and forthe year ended 31st March, 2007, have been disclosed based on reportablesegments then in force and are hence not comparable with the figures for thecurrent year. This information is provided by RNS The company news service from the London Stock Exchange