Performance of Financial and Investment Companies, 1997-98 (Part 2 of 5)

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ପ୍ରକାଶିତ ତାରିଖ ଅପ୍ରେଲ 15, 2000

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Performance of Financial and Investment Companies, 1997-98 (Part 2 of 5)

Statement 2: Profit Allocation and Profitability Ratios - Financial and Investment Companies - Activity-Wise, 1995-96 to 1997-98

						(Per cent)
		ALL COMPANIES
		ALL ACTIVITIES			SHARE TRADING
					AND INVESTMENT
					HOLDING
ITEM		(695)			(271)
		1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1	2	3	4	5	6	7
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	10.8	28.8	39.9	22.6	82.7	56.8
2.	Dividends to profits before tax	33.2	42.6	46.0	47.7	157.2	139.7
3.	Profits retained to profits before tax	55.9	28.7	14.1	29.7	$	$
4.	Dividends to profits after tax	37.3	59.7	76.6	61.7	#	323.3
5.	Profits retained to profits after tax	62.7	40.3	23.4	38.3	$	$

PROFITABILITY RATIOS
1.	Operating profits to total net assets	3.8	2.4	1.5	3.6	0.9	0.7
2.	Profits after tax to net worth	11.2	5.7	3.1	6.3	0.5	0.6
3.	Dividends to total paid-up capital	11.0	9.4	5.9	6.5	6.4	2.6
4.	Operating profits to main income	25.1	16.0	10.2	43.7	14.5	13.9
5.	Dividends to net worth	4.2	3.4	2.4	3.9	4.1	1.8
		PROFIT MAKING COMPANIES @
		(568)	(538)	(490)	(217)	(202)	(193)
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	9.7	21.4	23.4	15.8	20.5	12.6
2.	Dividends to profits before tax	29.7	31.7	27.2	33.0	39.2	31.2
3.	Profits retained to profits before tax	60.6	47.0	49.4	51.2	40.3	56.2
4.	Dividends to profits after tax	32.9	40.3	35.5	39.2	49.3	35.7
5.	Profits retained to profits after tax	67.1	59.7	64.5	60.8	50.7	64.3

PROFITABILITY RATIOS
1.	Operating profits to total net assets	4.6	3.5	2.9	7.3	6.1	3.5
2.	Profits after tax to net worth	13.8	9.2	7.8	12.3	10.0	5.8
3.	Dividends to total paid-up capital	12.9	11.5	7.6	8.8	9.4	3.2
4.	Operating profits to main income	28.8	22.2	19.7	69.6	65.7	64.2
5.	Dividends to net worth	4.5	3.7	2.8	4.8	4.9	2.1

						(Per cent)
		ALL COMPANIES
		LOAN FINANCE			HIRE PURCHASE
					FINANCE
ITEM		(131)			(44)
		1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1	8	9	10	11	12	13
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	22.4	44.8	45.0	13.4	23.1	28.6
2.	Dividends to profits before tax	42.8	40.4	41.1	23.4	24.6	27.0
3.	Profits retained to profits before tax	34.8	14.8	14.0	63.2	52.3	44.4
4.	Dividends to profits after tax	55.1	73.2	74.6	27.1	32.0	37.8
5.	Profits retained to profits after tax	44.9	26.8	25.4	72.9	68.0	62.2

PROFITABILITY RATIOS
1.	Operating profits to total net assets	1.8	1.2	0.8	3.8	3.1	2.7
2.	Profits after tax to net worth	3.8	2.0	1.5	21.2	15.4	11.6
3.	Dividends to total paid-up capital	3.0	2.1	1.6	23.6	18.1	18.6
4.	Operating profits to main income	16.4	11.6	8.1	22.8	18.1	14.9
5.	Dividends to net worth	2.1	1.5	1.1	5.7	4.9	4.4
		PROFIT MAKING COMPANIES @
		(97)	(98)	(95)	(42)	(42)	(33)
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	19.9	34.9	28.1	13.3	23.1	27.2
2.	Dividends to profits before tax	38.3	32.0	25.9	23.4	24.6	25.8
3.	Profits retained to profits before tax	41.8	33.1	46.0	63.3	52.3	47.0
4.	Dividends to profits after tax	47.8	49.1	36.1	27.0	32.0	35.4
5.	Profits retained to profits after tax	52.2	50.9	63.9	73.0	68.0	64.6

PROFITABILITY RATIOS
1.	Operating profits to total net assets	2.2	1.7	1.4	3.8	3.1	2.9
2.	Profits after tax to net worth	4.8	3.3	4.0	21.3	15.5	13.0
3.	Dividends to total paid-up capital	3.4	2.3	1.9	23.9	18.1	21.4
4.	Operating profits to main income	18.6	15.0	13.2	22.9	18.1	16.3
5.	Dividends to net worth	2.3	1.6	1.4	5.7	4.9	4.6

						(Per cent)
		ALL COMPANIES
		LEASING			DIVERSIFIED
ITEM		(62)			(125)
		1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1	14	15	16	17	18	19
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	5.3	26.8	#	5.2	23.5	37.7
2.	Dividends to profits before tax	42.1	74.5	#	31.6	37.3	40.7
3.	Profits retained to profits before tax	52.6	$	&	63.2	39.2	21.6
4.	Dividends to profits after tax	44.5	101.8	#	33.3	48.7	65.3
5.	Profits retained to profits after tax	55.5	$	&	66.7	51.3	34.7

PROFITABILITY RATIOS
1.	Operating profits to total net assets	4.2	2.1	$	4.1	2.7	1.7
2.	Profits after tax to net worth	13.9	4.7	$	12.5	6.2	3.6
3.	Dividends to total paid-up capital	15.4	11.6	6.6	18.9	16.9	11.1
4.	Operating profits to main income	18.1	8.5	$	25.1	17.3	10.9
5.	Dividends to net worth	6.2	4.8	3.2	4.2	3.0	2.3
		PROFIT MAKING COMPANIES @
		(55)	(53)	(37)	(107)	(102)	(96)
PROFIT ALLOCATION RATIOS
1.	Tax provision to profits before tax	4.5	19.5	18.9	4.7	19.0	23.6
2.	Dividends to profits before tax	35.2	55.2	49.9	29.5	30.3	25.3
3.	Profits retained to profits before tax	60.3	25.3	31.1	65.8	50.7	51.1
4.	Dividends to profits after tax	36.8	68.6	61.6	31.0	37.4	33.1
5.	Profits retained to profits after tax	63.2	31.4	38.4	69.0	62.6	66.9

PROFITABILITY RATIOS
1.	Operating profits to total net assets	5.6	2.6	1.9	4.6	3.5	3.2
2.	Profits after tax to net worth	19.3	7.3	10.5	14.1	8.6	7.9
3.	Dividends to total paid-up capital	16.6	12.9	11.3	20.9	19.2	15.4
4.	Operating profits to main income	22.0	10.5	6.8	27.5	22.3	20.7
5.	Dividends to net worth	7.1	5.0	6.4	4.4	3.2	2.6

Note	:	Figures in brackets denote the number of companies.
@		Companies making operating profits.
$		Numerator negative, nil or negligible.
#		Denominator negative, nil or negligible.
&		Numerator and denominator both negative or nil.

Statement 3: Combined Income, Expenditure and Appropriation Accounts - Financial and Investment Companies - Activity-Wise, 1995-96 to 1997-98

										(Rs. lakh)
					ALL ACTIVITIES			SHARE TRADING AND
								INVESTMENT HOLDING
ITEM					(695)			(271)
					1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1				2	3	4	5	6	7
INCOME
1.	Main Income				4,105,50	4,813,78	5,240,34	322,62	257,90	246,39
	(a) Interest				606,90	725,21	926,06	36,81	41,71	32,12
			(i) On loans and advances		427,50	545,75	664,29	23,29	24,91	12,63
			(ii) Others		179,40	179,46	261,77	13,52	16,80	19,49
	(b) Dividends				299,86	299,14	250,81	147,92	167,28	158,71
	(c) Brokerage				77,35	127,68	110,90	32	40	63
	(d) Net profit/loss in share dealings				210,40	130,12	131,94	120,95	41,88	50,49
	(e) Net earnings from hire purchase financing				1,321,76	1,654,03	1,949,16	1,89	25	-1,16
	(f) Lease rentals				1,589,22	1,877,61	1,871,48	14,73	6,38	5,60
2.	Other income				630,56	615,34	607,47	16,69	20,12	14,50
	Of which, rent				7,10	7,58	9,85	73	78	1,20
3.	Non-operating surplus(+)/deficit(-)				-2,17	10,96	2,29	-82	10,46	-3,95
4.	TOTAL (1+2+3)				4,733,89	5,440,07	5,850,11	338,48	288,49	256,93
EXPENDITURE AND APPROPRIATIONS
5.	Interest				1,965,51	2,428,10	2,715,98	148,60	177,38	154,71
6.	Salaries, wages and bonus				122,34	149,28	176,65	3,99	4,44	4,45
7.	Provident fund				8,22	10,59	13,11	28	34	35
8.	Employees' welfare expenses				16,15	19,69	17,35	54	56	53
9.	Managerial remuneration				9,14	12,84	12,64	52	55	82
10.	Bad debts				33,32	101,54	158,21	37	1,28	9,68
11.	Other expenses				679,63	841,19	904,76	29,77	36,39	28,73
	Of which, (a) Rent				70,70	122,64	150,47	2,82	93	2,13
				(b) Insurance	3,33	5,43	5,97	26	45	14
				(c) Advertisement	35,94	36,86	27,39	24	13	13
12.	Depreciation provision				832,93	1,010,43	1,125,07	13,73	14,45	10,83
13.	Other provisions (other than tax and depreciation)				40,05	85,70	187,77	59	5,33	16,64
14.	Operating profits				1,028,79	769,76	536,28	140,92	37,31	34,15
15.	Non-operating surplus(+)/deficit(-)				-2,17	10,96	2,29	-82	10,46	-3,95
16.	Profits before tax				1,026,61	780,71	538,57	140,10	47,78	30,20
17.	Less: tax provision				111,33	224,57	214,93	31,65	39,53	17,15
18.	Profits after tax				915,29	556,14	323,64	108,45	8,24	13,05
	(a) Dividends				341,26	332,20	247,92	66,88	75,10	42,17
		(i) Ordinary			331,16	307,69	216,38	64,51	65,94	31,44
		(ii) Preference			10,10	24,51	31,54	2,37	9,16	10,74
	(b) Profits retained				574,02	223,94	75,72	41,57	-66,85	-29,13
19.	TOTAL (5 TO 15)				4,733,89	5,440,07	5,850,11	338,48	288,49	256,93

									(Rs. lakh)
				LOAN FINANCE			HIRE PURCHASE
							FINANCE
ITEM				(131)			(44)
				1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1			8	9	10	11	12	13
INCOME
1.	Main Income			270,69	318,30	382,25	1,058,55	1,338,56	1,557,44
	(a) Interest			244,50	263,76	303,63	73,44	70,16	97,63
		(i) On loans and advances		209,14	236,56	268,03	60,64	39,68	65,06
		(ii) Others		35,37	27,21	35,60	12,80	30,47	32,57
	(b) Dividends			9,20	14,79	11,70	24,09	15,51	17,92
	(c) Brokerage			47	17	2,18	13	1,25	70
	(d) Net profit/loss in share dealings			3,91	7,46	21,84	14,45	5,21	2,38
	(e) Net earnings from hire purchase financing			78	14,14	14,15	643,04	861,58	1,024,40
	(f) Lease rentals			11,83	17,98	28,75	303,40	384,85	414,41
2.	Other income			31,86	26,33	40,00	168,31	56,17	56,29
	Of which, rent			31	29	31	1,64	28	38
3.	Non-operating surplus(+)/deficit(-)			70	-21	-1,06	8,85	24,15	3,73
4.	TOTAL (1+2+3)			303,26	344,41	421,19	1,235,71	1,418,87	1,617,46
EXPENDITURE AND APPROPRIATIONS
5.	Interest			195,53	231,05	291,88	543,35	683,33	824,02
6.	Salaries, wages and bonus			10,54	13,47	14,13	29,22	33,39	41,27
7.	Provident fund			70	99	1,21	2,48	2,65	3,80
8.	Employees' welfare expenses			1,53	2,15	1,60	3,52	3,84	3,78
9.	Managerial remuneration			2,78	2,61	2,86	88	2,99	1,84
10.	Bad debts			30	2,04	7,61	7,60	6,18	19,22
11.	Other expenses			36,67	38,57	48,16	211,43	178,57	180,76
	Of which,(a) Rent			5,43	6,70	6,23	6,05	28,23	13,54
			(b) Insurance	31	38	78	91	1,35	1,43
			(c) Advertisement	1,83	1,72	2,29	8,29	11,10	10,76
12.	Depreciation provision			9,27	14,82	20,88	182,57	232,94	264,76
13.	Other provisions (other than tax and depreciation)			91	1,86	2,93	4,69	8,86	42,22
14.	Operating profits			44,32	37,07	30,99	241,12	241,97	232,05
15.	Non-operating surplus(+)/deficit(-)			70	-21	-1,06	8,85	24,15	3,73
16.	Profits before tax			45,02	36,85	29,93	249,97	266,11	235,78
17.	Less : tax provision			10,11	16,52	13,46	33,43	61,45	67,44
18.	Profits after tax			34,91	20,33	16,47	216,54	204,66	168,34
	(a) Dividends			19,25	14,89	12,29	58,60	65,44	63,55
		(i) Ordinary		19,21	14,85	12,26	57,57	56,18	49,07
		(ii) Preference		4	4	2	1,03	9,26	14,49
	(b) Profits retained			15,66	5,44	4,18	157,94	139,22	104,79
19.	TOTAL (5 TO 15)			303,26	344,41	421,19	1,235,71	1,418,87	1,617,46

							(Rs. lakh)
		LEASING			DIVERSIFIED
ITEM		(62)			(125)
		1995-96	1996-97	1997-98	1995-96	1996-97	1997-98
	1	14	15	16	17	18	19
INCOME
1.	Main Income	522,74	614,12	635,17	1,796,87	2,110,86	2,270,95

(a)

Interest

47,84

56,43

97,45

184,05

273,32

381,85

		(i) On loans and advances		44,13	51,80	92,60	77,50	180,71	218,06
		(ii) Others		3,71	4,63	4,85	106,54	92,61	163,78

(b)	Dividends	4,37	4,04	2,63	108,86	92,06	55,49
(c)	Brokerage	1,95	1,11	43	13,92	13,03	9,88
(d)	Net profit/loss in share dealings	-14	-4,96	-5,11	55,63	80,22	65,07
(e)	Net earnings from hire purchase financing	88,93	93,00	109,21	581,41	678,50	792,66
(f)	Lease rentals	379,79	464,51	430,57	853,01	973,74	966,01

2.	Other income		53,02	40,02	21,82	251,02	341,82	340,04
	Of which, rent		32	41	49	4,05	5,50	6,54
3.	Non-operating surplus(+)/deficit(-)		-41	-10,53	-3,32	-9,26	-12,21	-77
4.	TOTAL (1+2+3)		575,34	643,61	653,67	2,038,63	2,440,48	2,610,21
EXPENDITURE AND APPROPRIATIONS
5.	Interest		176,95	207,43	236,79	858,93	1,080,46	1,156,72
6.	Salaries, wages and bonus		12,48	13,97	15,57	42,69	56,31	67,77
7.	Provident fund		63	76	96	2,55	3,41	4,37
8.	Employees' welfare expenses		1,32	1,45	1,70	6,97	8,17	6,72
9.	Managerial remuneration		93	89	99	3,27	3,97	4,21
10.	Bad debts		5,50	10,62	23,99	18,32	78,57	88,60
11.	Other expenses		103,03	172,29	189,67	208,63	266,45	338,98
	Of which, (a) Rent		35,19	60,71	98,11	13,12	16,97	22,04
		(b) Insurance	26	62	42	91	1,38	1,59
		(c) Advertisement	5,30	3,13	2,63	18,13	17,70	10,74
12.	Depreciation provision		163,33	181,10	194,20	441,07	540,79	600,20
13.	Other provisions (other than tax and depreciation)		17,17	13,14	20,33	14,96	49,31	95,54
14.	Operating profits		94,42	52,50	-27,20	450,51	365,25	247,87
15.	Non-operating surplus(+)/deficit(-)		-41	-10,53	-3,32	-9,26	-12,21	-77
16.	Profits before tax		94,00	41,97	-30,52	441,25	353,04	247,10
17.	Less: tax provision		5,03	11,24	8,02	22,77	82,88	93,26
18.	Profits after tax		88,98	30,73	-38,54	418,49	270,16	153,84

(a)

Dividends

39,57

31,28

18,99

139,45

131,61

100,47

		(i) Ordinary		39,30	30,32	18,54	135,49	128,87	97,29
		(ii) Preference		26	96	45	3,96	2,74	3,18

	(b)	Profits retained		49,41	-55	-57,53	279,04	138,55	53,37
19.	TOTAL (5 TO 15)			575,34	643,61	653,67	2,038,63	2,440,48	2,610,21

Note :

Figures in brackets below the activity titles denote the number of companies. 'All activities' include figures for a miscellaneous group for which separate data are not presented.