13 Oct 2008 07:08
Axis 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, 2008
(Rs. in crores)
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| PARTICULARS | FOR THE QUARTER ENDED 30.09.2008 | FOR THE QUARTER ENDED 30.09.2007 | FOR THE HALF YEAR ENDED 30.09.2008 | FOR THE HALF YEAR ENDED 30.09.2007 | FOR THE YEAR ENDED 31.03.2008 |
| | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) |
| 1. Interest earned (a)+(b)+(c)+(d) | 2,545.05 | 1,676.49 | 4,811.49 | 3,187.54 | 7,005.31 |
| (a) Interest/discount on advances/bills | 1,767.23 | 1,133.43 | 3,316.45 | 2,145.84 | 4,745.65 |
| (b) Income on Investments | 705.69 | 508.64 | 1,358.53 | 974.64 | 2,102.31 |
| (c) Interest on balances with Reserve Bank of India and other inter-bank funds | 54.00 | 23.35 | 104.75 | 42.71 | 107.64 |
| (d) Others | 18.13 | 11.07 | 31.76 | 24.35 | 49.71 |
| 2. Other Income | 694.40 | 382.88 | 1,319.20 | 751.12 | 1,795.49 |
| 3. TOTAL INCOME (1+2) | 3,239.45 | 2,059.37 | 6,130.69 | 3,938.66 | 8,800.80 |
| 4. Interest Expended | 1,631.58 | 1,087.82 | 3,087.56 | 2,177.96 | 4,419.96 |
| 5. Operating expenses (i)+(ii) | 733.44 | 508.69 | 1,366.38 | 929.90 | 2,154.92 |
| (i) Employees cost | 260.40 | 164.42 | 474.08 | 312.32 | 670.25 |
| (ii) Other operating expenses | 473.04 | 344.27 | 892.30 | 617.58 | 1,484.67 |
| 6. TOTAL EXPENDITURE (4)+(5) (Excluding Provisions and Contingencies) | 2,365.02 | 1,596.51 | 4,453.94 | 3,107.86 | 6,574.88 |
| 7. OPERATING PROFIT (3-6) (Profit before Provisions and Contingencies) | 874.43 | 462.86 | 1,676.75 | 830.80 | 2,225.92 |
| 8. Provisions (other than tax) and Contingencies (Net) | 255.78 | 114.46 | 552.51 | 215.37 | 579.64 |
| 9. Exceptional Items | - | - | - | - | - |
| 10. Profit/(Loss) from Ordinary Activities before Tax (7-8-9) | 618.65 | 348.40 | 1,124.24 | 615.43 | 1,646.28 |
| 11. Tax expense | 215.74 | 120.58 | 391.19 | 212.63 | 575.25 |
| 12. Net Profit/(Loss) from Ordinary Activities after Tax (10-11) | 402.91 | 227.82 | 733.05 | 402.80 | 1,071.03 |
| 13. Extraordinary Items (net of tax expense) | - | - | - | - | - |
| 14. Net Profit/(Loss) for the period (12-13) | 402.91 | 227.82 | 733.05 | 402.80 | 1,071.03 |
| 15. Paid-up equity share capital (face value Rs. 10/- per share) | 358.89 | 356.51 | 358.89 | 356.51 | 357.71 |
| 16. Reserves excluding revaluation reserves (as per balance sheet of previous accounting year) | | | | | 8,410.79 |
| 17. Analytical Ratios | | | | | |
| (i) Percentage of Shares held by Government of India | NIL | NIL | NIL | NIL | NIL |
| (ii) Capital Adequacy Ratio | 12.20% | 17.59% | 12.20% | 17.59% | 13.73% |
| (iii) Earnings per Share (EPS) for the period / year (before and after extraordinary items) - Basic - Diluted | 11.23 11.07 | 7.37 7.14 | 20.45 20.12 | 13.04 12.62 | 32.15 31.31 |
| (iv) NPA Ratios | | | | | |
| (a) Amount of Gross Non-performing assets | 710.20 | 487.16 | 710.20 | 487.16 | 494.61 |
| (b) Amount of Net Non-performing assets | 336.68 | 280.68 | 336.68 | 280.68 | 248.29 |
| (c) % of Gross NPAs | 0.91 | 0.95 | 0.91 | 0.95 | 0.72 |
| (d) % of Net NPAs | 0.43 | 0.55 | 0.43 | 0.55 | 0.36 |
| (v) Return on Assets (annualized) | 1.34 | 1.10 | 1.27 | 1.02 | 1.24 |
| 18. Public Shareholding - Number of shares - Percentage of shareholding | 191,030,479 53.23% | 180,638,188 50.67% | 191,030,479 53.23% | 180,638,188 50.67% | 192,605,887 53.84% |
Notes :
1. The results above have been approved by the Board of Directors of the Bank at its meeting held at Hong Kong 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. Disclosure about investor complaints:
| Complaints at the beginning of the quarter | Received during the quarter | Disposed off during the quarter | Unresolved as on 30.09.2008 |
| - | 191 | 188 | 3* |
* 2 resolved in the first week of October 2008
4. These results for the half-year ended 30th September 2008, have been subjected to a "Limited Review" by the Statutory Auditors of the Bank.
5. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures.
Place : Hong Kong P.J. NAYAK
Date : 13.10.2008 CHAIRMAN & CEO
www.axisbank.com
AXIS BANK
Segmental Results
(Rs. in crores)
| For the quarter ended 30-09-2008 | For the quarter ended 30-09-2007 | For the half year ended 30-09-2008 | For the half year ended 30-09-2007 | For the year ended 31-03-2008 | ||
| 1 | Segment Revenue |
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| a | Treasury | 4,667.75 | 2,937.72 | 8,839.91 | 5,880.90 | 12,491.41 |
| b | Corporate/Wholesale Banking | 1,773.39 | 1,086.88 | 3,328.93 | 2,196.82 | 4,778.01 |
| c | Retail Banking | 1,641.59 | 964.03 | 3,072.69 | 1,761.92 | 4,260.23 |
| d | Other Banking Business | (0.74) | (15.19) | (0.90) | (15.03) | (9.52) |
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| Total | 8,081.99 | 4,973.44 | 15,240.63 | 9,824.61 | 21,520.13 |
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| Less Inter segment revenue | 4,842.54 | 2,914.07 | 9,109.94 | 5,885.95 | 12,719.33 |
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| Income from Operations | 3,239.45 | 2,059.37 | 6,130.69 | 3,938.66 | 8,800.80 |
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| 2 | Segment Results After Provisions & Before Tax |
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| a | Treasury | 102.99 | 91.13 | 72.11 | 70.23 | 347.80 |
| b | Corporate/Wholesale Banking | 505.78 | 250.33 | 1,018.53 | 521.43 | 1,190.02 |
| c | Retail Banking | 10.74 | 22.13 | 34.62 | 38.80 | 130.64 |
| d | Other Banking Business | (0.86) | (15.19) | (1.02) | (15.03) | (22.18) |
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| Total Profit Before Tax | 618.65 | 348.40 | 1,124.24 | 615.43 | 1,646.28 |
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| 3 | Capital Employed |
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| a | Treasury | (3,738.23) | 3,481.26 | (3,738.23) | 3,481.26 | 1,242.06 |
| b | Corporate/Wholesale Banking | 23,912.62 | 13,784.09 | 23,912.62 | 13,784.09 | 18,530.45 |
| c | Retail Banking | (12,046.82) | (9,954.17) | (12,046.82) | (9,954.17) | (12,077.37) |
| d | Other Banking Business | 1,413.50 | 1,011.32 | 1,413.50 | 1,011.32 | 1,073.36 |
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| Total | 9,541.07 | 8,322.50 | 9,541.07 | 8,322.50 | 8,768.50 |
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Notes:
1. Previous period figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures.
Axis Bank Regs (AXB)