Financial Daily from THE HINDU group of publications
Thursday, Jul 25, 2002
Financial Daily from THE HINDU group of publications Thursday, Jul 25, 2002 |
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Money & Banking
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Private Banks Corporate Results - Private Banks Global Trust Q1 net down 20 pc Our Bureau
HYDERABAD, July 24 GLOBAL Trust Bank (GTB) has suffered a significant fall in total income, operating and net profit for the first quarter of the current fiscal year ended June 30, 2002. The capital adequacy ratio of the bank has also declined to 11.08 per cent from 13.58 per cent in the corresponding quarter of previous year. The total income was at Rs 199.13 crore as compared to Rs 260.98 crore in the corresponding quarter of previous fiscal, a drop of 23.69 per cent. The operating profit dipped by 56.15 per cent to Rs 20.16 crore (Rs 45.98 crore), while the net profit fell by 20.67 per cent to Rs 12.93 crore (Rs 16.3 crore). According to the unaudited financial results taken on record by the GTB board at Bangalore on Wednesday, the bank incurred a total expenditure (excluding provisions and contingencies) of Rs 178.97 crore for the quarter under review as against Rs 215 crore in the corresponding quarter. The bank provided Rs 7.23 crore towards other provisions and contingencies during the period under review as against Rs 28.02 crore in the corresponding quarter. The bank, which provided Rs 1.66 crore towards taxation in the corresponding quarter of previous year, has not made any such provision during the quarter under review.
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