| Bank Al Habib Limited |
|
|
|
|
|
|
|
|
| Annual Report 1999 |
|
|
|
| Contents |
|
|
|
| Board
of Directors |
|
| Branch Network |
|
| Notice of Annual General
Meeting |
|
| Directors' Report |
|
| Auditors' Report |
|
| Balance
Sheet |
|
| Profit
and Loss Account |
|
| Cash Flow Statement |
|
|
| Notes to the Accounts |
|
| Pattern
of Shareholdings |
|
|
|
|
| Board
of Directors |
|
| Chairman |
|
| Hamid D. Habib |
|
|
| Chief
Executive & Managing Director |
|
| Abbas D. Habib |
|
|
| Directors |
|
| Ali Raza D. Habib |
|
| Faiz N. Abdulali |
|
| Qumail R. Habib* |
|
| Liaquat H. Merchant |
|
| Anwar Haji Karim |
|
| Murtaza H. Habib |
|
| Nasim Beg |
|
| Hasnain A. Habib |
|
|
| *Denotes
Executive Director |
|
|
| Company Secretary |
|
| Mahmood
S. Allarakhia |
|
|
|
| Branch Network |
|
| Karachi |
|
Lahore |
|
Islamabad |
|
| MAIN BRANCH |
|
MAIN BRANCH |
|
MAIN BRANCH |
|
| Maokinnons
Building, I.I. Chundrigar Road. |
87,
Shahrah-e-Quaid-e-Azam |
90-91, Razia Sharif Plaza |
|
| Phones:
(92-21) 2412986-89, 2417065-68 |
Phones: (92-42)
6305042-45 & 111-786-110 |
Jinnah Avenue, Blue Area, |
|
| Fax:
(92-21)2425423 & 2412028 |
Fax: (92-42) 6368864
& 6305046 |
Phones: (92-51) 270883-4
& 111-786-110 |
|
| Telex:
21286 ALHAB PK |
|
Fax: (92-51) 270885 |
|
|
GARDEN TOWN BRANCH |
Telex: 54726 BAHID PK |
|
| SHARAH-E-FAISAL
BRANCH |
Awami Complex,1-4 Usman
Block |
|
| 20-A-1,
Block 6, P.E.C.H.S, Shahrah-e-Faisal |
Front Block V, New Garden
Town |
F-10 MARKAZ BRANCH |
|
| Phones:
(92-21) 4530140-42 & 4544301 |
Phones: (92-42)
5869365-69 |
F-10 Markaz, Islamabad |
|
| Fax: (92-21) 4530143 |
|
Fax: (92-42) 5869370 |
Phone: (92-51) 297758 |
|
|
| GULSHAN-E-IQBAL
BRANCH |
GULBERG BRANCH |
Rawalpindi |
|
| B-39,
Al-Shams Centre, Block 13-A, |
3-E, Block E, Ground
Floor, |
40/3, Jhanzeb Centre,
Bank Road, |
|
| University
road, Gulshan-e-Iqbal |
Main Market, Gulberg II |
Rawalpindi Cantt, |
|
| Phones:
(92-21) 4989162-63 |
Phones: (92-42) 5762502
& 5754586 |
Phones: (92-51) 519936-38 |
|
| Fax: (92-21) 4989164 |
|
Fax: (92-42) 5762501 |
Fax: (92-51) 519939 |
|
|
| ZAMZAMA BRANCH |
|
Multan |
|
Peshawar |
|
| 16-C,
Commercial Lane 3, |
MAIN BRANCH |
|
105-106, F.C. Trust
Building |
|
| Phase
V, Zamzama Boulevard, |
126-C, Old Bahawalpur
Road, |
Sonehri Masjid Road, |
|
| Defence
Housing Authority |
Phones: (92-61) 544539
& 111-786-110 |
Phones: (92-91) 279814
& 111-786-110 |
|
| Phones:
(92-21) 5863986, 5861804 |
Fax: (92-61) 582471 |
|
Fax: (92-91) 279861 |
|
| Fax: (92-21) 5863914 |
|
Telex: 42336 ALHML PK |
|
|
|
Mirpur (Azad Kashmir) |
|
| S.I.T.E. Branch |
|
HUSSAIN AGAHI ROAD BRANCH |
82-A/B, Allama Iqbal
Road, Sector B-4, |
|
| b/76, S.S.
Chambers, S.I.T.E, |
Lohari Gate Shopping
Centre, |
Phone: (92-58610) 45064 |
|
| Phones:
(92-21) 2571710-11 & 2571521 |
Hussain Agahi Road, |
Fax: (92-58610) 44766 |
|
| Fax: (92-21) 2571522 |
|
Phones: (92-61) 513893
& 548333 |
|
|
Fax: (92-61) 513793 |
|
Gujrat |
|
| BAHADURABAD
BRANCH |
|
Ground Floor, Soufi
Hotel, G.T. Road, |
|
| Central
Commercial Area B.C.H.S. |
GHALLA MANDI BRANCH |
Phones: (92-43310 525623
& 111-786-110 |
|
| Bahadurabad. |
|
135/C, Ghalla Mandi,
Vehari Road, |
Fax: (92-43317) 401737 |
|
| Phones:
(92-21) 4915803-5 |
Phones: (92-61) 232627-28 |
|
| Fax: (92-21) 4915802 |
|
Fax: (92-61) 232629 |
|
Dinga (Distt. Gujrat) |
|
|
Opp: Civil Hospital |
|
| M.A.
JINNAH ROAD BRANCH |
Faisalabad |
|
Phone: (92-43317) 401737 |
|
| Godrej
Kandawala Building |
Bank Square, Outside
Kutchery Bazar, |
Fax; (92-43317) 401737 |
|
| M.A. Jinnah Road, |
|
Phones: (92-41) 637301-3
& 111-786-110 |
|
| Phones:
(92-21) 7228494, 7228458 |
Fax: (92-41) 614266 |
|
Quetta |
|
| Fax: (92-21) 7228450 |
|
Telex: 43528 ALHAB PK |
Mannan Chowk, M.A. Jinnah
Road |
|
|
Phones: (92-81) 844125
& 111-786-110 |
|
| CLOTH
MARKET BRANCH |
Sialkot |
|
Fax: (92-81) 842335 |
|
| Ground
Floor, Louts Manzil, |
Paris Road |
|
| BR-2,
New Neham Road, |
Phones: (92-4320 592747
& 111-786-110 |
Nawabshah |
|
| Cloth Market, |
|
Fax: (92-432) 592747 |
Masjid Road |
|
| Phones:
(92-21) 2401301-4 |
Telex: 46426 ALHAB PK |
Phones: (92-241) 62738
& 62854 |
|
| Fax: (92-21) 2401300 |
|
Fax; (92-241) 62737 |
|
|
Sheikhupura |
|
| KARACHI
STOCK EXCHANGE BRANCH |
B-IX-64-95/A, |
|
Hyderabad |
|
| Room No. 4-6, |
|
Sarghoda Road, |
|
Qasre Fatima, 90/1-2
Saddar Bazar |
|
| Stock
Exchange Building |
Near Sharif Plaza |
|
Cantonment Area |
|
| Stock Exchange Road, |
|
Phones: (92-4931) 612906
& 111-786-110 |
Phones: (92-2210 785541 & 785809 |
|
| Phone:
(92-21) 2401516-19 |
Fax: (92-4931) 612877 |
Fax: (92-221) 781955 |
|
| Fax: (92-21) 2401520 |
|
|
Sahiwal |
|
Sukkur |
|
|
271, Block-2, |
|
B-2555, Shaheed Gunj, |
|
|
High Street (Jinnah Road) |
Phones: (92-71) 22287
& 237173 |
|
|
Phones: (92-441) 66021
& 67021 |
Fax: (92-71) 25749 |
|
|
Fax: (92-441) 64031 |
|
|
| Registered
Office and Head Office: |
|
| 126-C,
Old Bahawalpur Road, Multan, Phones: (92-61) 580314-16, 544539 &
111-786-110 Fax: 992-61) 582471 Telex: 42336 ALHML PK |
|
|
| Principal Office: |
|
| Maokinnons
Building, I.I. Chundrigar Road, Karachi. Phones: (92-21) 2412986-89,
2417065-68, Fax: (92-21)2425423 & 2412028, Telex: 21286 ALHAB PK |
|
|
|
| Notice
of Annual General Meeting |
|
|
|
| Notice
is hereby given that the Ninth Annual General Meeting of Bank AL Habib
Limited will be held at the |
|
| Registered
Office of the Bank located at 126-C, Old Bahawalpur Road, Multan, on Tuesday,
March 28, 2000 |
|
| at
12:30 p.m., to transact the following business: |
|
|
| 1.
To receive and adopt the audited Accounts of the Bank for the year ended
December31,1999 together |
|
| with the Directors' and Auditors' Reports
thereon. |
|
|
| 2.
To approve the issue of bonus shares as recommended by the Directors and in
this regard to pass the |
|
| following Ordinary Resolution: |
|
|
| "RESOLVED
that a sum of Rs. 100,188,000 (Rupees one hundred million one hundred and
eighty eight |
|
| thousand
only) out of the unappropriated profit be capitalized and distributed by
issuing 10,018,800 |
|
| fully
paid ordinary shares of Rs, 10 each as bonus shares in the proportion of
twenty shares for every |
|
| hundred
shares held, to those members whose names appear in the register of members
as at the |
|
| close
of business on March 20, 2000 and that the shares so distributed shall be
treated for all purposes |
|
| as
an increase in the paid-up capital of the Bank. |
|
|
| FURTHER
RESOLVED that the bonus shares so distributed shall rank pari passu in all
respects with |
|
| the
existing shares of the Bank. |
|
|
|
|
| FURTHER
RESOLVED that members entitled to a fraction of a share shall be given the
sale proceeds |
|
| of
their fractional entitlement, for which purpose the Directors be and are
hereby authorised to |
|
| consolidate
the fractions into whole shares and sell the shares in the stock market. |
|
|
|
|
| FURTHER
RESOLVED that the Directors be and are hereby authorised and empowered to
give effect |
|
| to
this resolution and to do or cause to be done all acts, deeds and things that
may be necessary or |
|
| required
for the issue, allotment and distribution of 10,018,800 shares." |
|
|
| 3.
To appoint Auditors for the year 2000 and to fix their remuneration. Messrs
Hyder Bhimji & Company, |
|
| Chartered
Accountants, being eligible offer themselves for reappointment. |
|
|
| 4.
To consider any other business of the Bank with the permission of the Chair. |
|
|
|
|
By order of the Board |
|
|
|
|
|
MAHMOOD S. ALLARAKHIA |
|
| Karachi:
February 23, 2000. |
|
Company Secretary |
|
|
| Notes: |
|
|
| 1.
A member entitled to attend and vote at this meeting is entitled to appoint a
proxy to attend and vote |
|
| on his/her behalf. A proxy must be a member
of the Bank. Proxy forms in order to be effective must |
|
| be received at the Registered Office of the
Bank located at 126-C, Old Bahawalpur Road, Multan, duly |
|
| stamped and signed not less than 48 hours
before the meeting. |
|
|
| 2.
The share transfer books of the Bank will remain closed from Tuesday, March
21, 2000 to Tuesday, |
|
| March 28, 2000 both days inclusive. The
Shares Department of the Bank is located at |
|
| 217, Cotton Exchange Building, I.I.
Chundrigar Road, Karachi. |
|
|
| 3.
Members are requested to promptly communicate to the Bank any change in their
address. |
|
|
|
| Directors' Report |
|
|
| The
Board of Directors are pleased to present to you the Ninth Annual Report for
the year ended December |
|
| 31, 1999. |
|
|
| Al-Hamdolillah,
the working of the Bank during the year has been satisfactory. |
|
|
| The
operating results for the year and its appropriations are given below: |
|
|
|
|
(Rupees in '000) |
|
| Profit
for the year before tax |
|
312,728 |
|
| Taxation |
|
|
(220,000)' |
|
|
|
--------------------- |
|
| Profit
for the year after tax |
|
152,728 |
|
| Unappropriated
Profit brought forward |
|
6,351 |
|
|
|
--------------------- |
|
| Profit
available for Appropriation |
|
159,079 |
|
| Appropriations: |
|
|
|
| Transfer
to Statutory Reserve Fund |
|
31,000 |
|
| Transfer
to Special Reserve Fund |
|
25,000 |
|
|
| Proposed
- Fully paid Bonus Shares |
|
| in
the ratio of 20 Ordinary |
|
| Shares for every |
|
|
| 100 shares held |
|
100,188 |
|
|
|
--------------------- |
|
|
|
159,188 |
|
|
|
--------------------- |
|
| Unappropriated
Profit carried forward |
|
2,891 |
|
|
============ |
|
| Earnings
per share (pre-tax) |
|
Rs.7.44 |
|
|
--------------------- |
|
|
|
| Performance Review |
|
| The
year under review remained under pressure which resulted in further slowing
down of the economy. The |
|
| Government
of Pakistan, in order to revive the economy and to boost industrial
development, decided on |
|
| a
policy to reduce the rate of return on securities etc., which has in turn led
to a decline in the lending rate, |
|
| The
Bank's margins, therefore, decreased resulting in reduced profit for the
year. |
|
|
| By
the Grace of Allah, Deposits increased to Rs. 14,112.9 million as compared to
the corresponding period, |
|
| registering
a growth of Rs. 887.0 million. Within the overall framework of the Bank's
lending policy, advances |
|
| under
Export Refinance Scheme increased by Rs. 1,834.8 million while other advances
increased by |
|
| Rs. 1,526.7 million. |
|
|
| The
financial highlights are as under : |
|
|
|
|
(Rupees in million) |
|
|
|
Dec. 31, 1999 |
Dec. 31, 1998 |
|
|
| Pre-Tax Profit |
|
372.7 |
444.7 |
|
| Post-Tax Profit |
|
152.7 |
203.1 |
|
| Shareholders' Equity |
|
1169.0 |
1016.3 |
|
| Total
Customers' Deposits |
|
14112.9 |
13225.9 |
|
| Total Advances |
|
10925.3 |
7563.8 |
|
| Foreign
Trade Business |
|
26525.5 |
20270.3 |
|
|
| The
successful conclusion of agreements with lending agencies by the Government
of Pakistan and forecast |
|
| of
a larger output in the agricultural sector, the year 2000 is expected to be
more prosperous. |
|
|
| However,
due to high liquidity in the market, the lending rates would continue to
remain low which may keep |
|
| the
financial sector under pressure. |
|
|
| Branch Network |
|
| Two
more branches were opened during the year at Ghalla Mandi Multan and F-10
Markaz Islamabad, |
|
| bringing
the total number of branches to 30. |
|
|
| Y2K |
|
| The
new software 'Bank Plus' was implemented and became operational during the
year in all the branches |
|
| of
the Bank. AI-Hamdolillah, no Y2K problem was faced. |
|
|
| Pattern
of Shareholding |
|
| The
statement of pattern of shareholding of the Bank as at December 31, 1999, is
given . |
|
|
| Auditors |
|
| Our
present auditors, Messrs Hyder Bhimji & Company, Chartered Accountants,
retire and being eligible, |
|
| offer
themselves for reappointment. |
|
|
| General |
|
| We
are grateful to our customers for their support, to the State Bank of
Pakistan for their continued guidance |
|
| and
to our foreign and local correspondent banks for their valuable services. We
also thank all our staff |
|
| members
for their sincere and dedicated services, which enabled the Bank to achieve
these results. |
|
|
|
|
On Behalf of the Board of
Directors |
|
| Karachi:
February 23,2000. |
|
HAMID D. HABIB |
|
|
|
|
Chairman |
|
|
|
|
|
|
|
|
| Auditors'
Report to the Members |
|
|
|
| We
have audited the annexed Balance Sheet of Bank Al Habib Limited as at
December 31, 1999, and the |
|
| related
Profit and Loss Account and Statement of Changes in Financial Position (Cash
Flow Statement) |
|
| together
with the notes forming part thereof for the year then ended, in which are
incorporated certified |
|
| returns
from all the branches which have been audited by us and we state that we have
obtained all the |
|
| information
and explanations which to the best of our knowledge and belief were necessary
for the purpose8 |
|
| of
our audit and after due verification thereof, found them satisfactory and we
report that: |
|
|
| (a)
in our opinion proper books of account have been kept by Bank Al Habib
Limited as required by the |
|
| Companies
Ordinance, 1984, and the returns referred to above received from the branches
have been |
|
| found
adequate for the purposes of our audit; |
|
|
| (b) in our opinion: |
|
|
|
| i)
the Balance Sheet and Profit and Loss Account and Statement of Changes in
Financial Position |
|
| (Cash
Flow Statement) together with the notes thereon have been drawn up in
conformity with |
|
| the
Banking Companies Ordinance, 1962, and the Companies Ordinance, 1984, and are
in |
|
| agreement
with the books of account and are further in accordance with accounting
policies |
|
| consistently applied; |
|
|
|
|
| ii) the expenditure incurred during the year
was for the purpose of the Bank's business; and |
|
|
| iii)
the business conducted, investments made and expenditure incurred during the
year were in |
|
| accordance
with the objects of the Bank and the transactions of the Bank which have come
to |
|
| our
notice have been within the powers of the Bank: |
|
|
| (c)
in our opinion and to the best of our information and according to the
explanations given to us, the |
|
| Balance Sheet and the Profit and Loss
Account and Statement of Changes in Financial Position (Cash |
|
| Flow Statement) together with the notes
forming part thereof give the information required by the |
|
| Banking Companies Ordinance, 1962, and the
Companies Ordinance, 1984, in the manner so required |
|
| and give a true and fair view of the state
of the Bank's affairs as at December 31, 1999, and its true |
|
| balance of the profit for the year then
ended: |
|
|
| (d)
in our opinion, Zakat deductible at source under the Zakat and Ushr
Ordinance, 1980, was deducted |
|
| and
deposited in the Central Zakat Fund established under Section 7 of that
Ordinance. |
|
|
| Karachi:
February 23, 2000 |
|
HYDER BHIMJI & GO. |
|
|
|
|
Chartered Accountants |
|
|
|
|
|
|
|
|
|
|
|
| Balance
Sheet as at December 31, 1999 |
|
|
|
|
|
1999 |
1998 |
|
|
|
Note |
(Rupees in '000) |
|
|
| ASSETS |
|
|
| Cash |
|
4 |
1,839,504 |
1,258,286 |
|
| Balances
with Other Banks |
5 |
1,590,050 |
448,826 |
|
| Money
at Call and Short Notice |
|
180,000 |
100,000 |
|
| Investments |
|
6 |
4,600,990 |
6,999,149 |
|
| Advances
- (net of provision) |
7 |
10,925,299 |
7,563,887 |
|
| Operating
Fixed Assets |
8 |
241,841 |
210,285 |
|
| Capital
Work-in-Progress |
9 |
20,869 |
415 |
|
| Other Assets |
|
10 |
471,684 |
316,300 |
|
|
--------------------- |
--------------------- |
|
|
|
19,870,187 |
16,897,148 |
|
| LIABILITIES |
|
|
| Deposits
and Other Accounts |
11 |
14,112,870 |
13,225,945 |
|
| Borrowings
From Other Banks, Agents etc. |
12 |
4,035,320 |
2,083,305 |
|
| Bills Payable |
|
|
146,985 |
134,410 |
|
| Other Liabilities |
|
13 |
405,993 |
437,197 |
|
|
|
|
--------------------- |
--------------------- |
|
|
|
|
18,701,168 |
15,880,857 |
|
|
|
|
--------------------- |
--------------------- |
|
| Net Assets |
|
|
1,169,019 |
1,016,291 |
|
|
============ |
============ |
|
| REPRESENTED BY: |
|
|
| Share Capital |
|
14 |
940 |
379,500 |
|
| Reserve
for proposed issue of Bonus Shares |
100,188 |
121,440 |
|
| Reserve
Fund and Other Reserves |
15 |
565,000 |
509,000 |
|
| Unappropriated Profit |
|
2,891 |
6,351 |
|
|
--------------------- |
--------------------- |
|
| Shareholders' Equity |
|
1,169,019 |
1,016,291 |
|
|
|
============ |
============ |
|
| MEMORANDUM
ITEMS: |
|
| Bills for Collection |
|
16 |
2,619,786 |
1,645,336 |
|
| Acceptances,
Endorsements and Other |
|
|
| Obligations |
|
|
2,064,833 |
1,267,343 |
|
| Contingent
Liabilities and Commitments |
17 |
|
|
| The
annexed notes form an integral part of these accounts. |
|
|
| HAMID D. HABIB |
|
ABBAS D. HABIB |
|
ANWAR HAJI KARIM |
FAIZ N. ABDULALI |
|
| Chairman |
|
Chief Executive and |
Director |
|
Director |
|
| Karachi:
February 23, 2000. |
Managing Director |
|
|
|
|
|
|
|
|
|
| Profit
and Loss Account for the year ended December 31, 1999 |
|
|
|
|
|
1999 |
1998 |
|
|
|
|
Note |
(Rupees in '000) |
|
|
|
| Mark-up
/ Interest and discount and / or return earned |
1,878,610 |
2,135,626 |
|
| Less:
Cost / Return on deposits, borrowings etc. |
(1,443,208) |
(1,614,999)' |
|
|
|
435,404 |
520,627 |
|
| Fees,
commissions and brokerage |
|
82,270 |
63,982 |
|
| Profit
from investment securities |
|
10,496 |
-- |
|
| Dividend income |
|
1,854 |
963 |
|
| Other
operating income |
18 |
160,498 |
158,633 |
|
|
-------------------- |
-------------------- |
|
|
255,118 |
223,178 |
|
|
-------------------- |
-------------------- |
|
|
690,522 |
743,805 |
|
| Operating Expenses: |
|
| Administrative
expenses |
19 |
888,088 |
308,272 |
|
| Provisions
against non-performing advances |
7.2 |
4,423 |
(18,464) |
|
| Provision
for diminution in value of investments |
6 |
(18,974) |
13,122 |
|
|
-------------------- |
-------------------- |
|
|
(320,537) |
(302,930) |
|
|
-------------------- |
-------------------- |
|
|
369,986 |
440,875 |
|
| Other income |
|
20 |
2,743 |
3,867 |
|
|
|
-------------------- |
-------------------- |
|
| Profit before taxation |
|
372,728 |
444,742 |
|
| Taxation - current |
|
21 |
220,000 |
280,000 |
|
| - deferred |
|
|
-- |
(18,380) |
|
|
-------------------- |
-------------------- |
|
|
(220,000) |
(241,820) |
|
|
-------------------- |
-------------------- |
|
| Profit after taxation |
|
152,728 |
2,031 |
|
| Unappropriated
Profit brought forward |
|
6,851 |
3,619 |
|
|
-------------------- |
-------------------- |
|
| Profit
available for appropriation |
|
159,079 |
206,741 |
|
|
|
|
|
| APPROPRIATIONS |
|
| Transfer to: |
|
| Statutory
Reserve Fund |
|
31,000 |
41,000 |
|
| Special Reserve |
|
25,000 |
-- |
|
| Reserve
for proposed issue of Bonus Shares |
100,188 |
121 |
|
| Proposed
Cash Dividend |
|
-- |
37,950 |
|
|
-------------------- |
-------------------- |
|
|
|
(156,188) |
(200,390) |
|
|
-------------------- |
-------------------- |
|
| Unappropriated
profit carried forward |
|
2,801 |
6,351 |
|
|
|
============ |
============ |
|
| The
annexed notes form an integral part of these accounts. |
|
|
| HAMID D. HABIB |
|
ABBAS D. HABIB |
|
ANWAR HAJI KARIM |
FAIZ N. ABDULALI |
|
| Chairman |
|
Chief Executive and |
Director |
|
Director |
|
| Karachi:
February 23, 2000. |
Managing Director |
|
|
|
|
|
|
|
|
|
| Cash
Flow Statement for the year ended December 31, 1999 |
|
|
|
|
|
1999 |
1998 |
|
|
|
(Rupees in '000) |
|
|
| Cash
Flow From Operating Activities |
|
| Profit before taxation |
|
372,728 |
444,742 |
|
| Less: Dividend income |
|
(1,8.54) |
(963) |
|
|
|
------------------- |
------------------- |
|
|
|
370,874 |
443,779 |
|
| Add:
Adjustment for non-cash charges: |
|
| Depreciation |
|
27,190 |
20,691 |
|
| Provision
for diminution in the value of investments |
(16,974) |
19,122 |
|
| Provision
against non-performing advances |
4,423 |
(18,464) |
|
| Gain
on disposal of fixed assets |
|
(2,743) |
(3,863) |
|
|
------------------- |
------------------- |
|
|
|
11,896 |
11,486 |
|
|
|
------------------- |
------------------- |
|
|
|
382,770 |
455,265 |
|
| (Increase)
/ Decrease in operating assets: |
|
|
|
| Government securities |
|
2,436,275 |
427,466 |
|
| Advances |
|
(3,365,855) |
(173,490) |
|
| Other
assets (excluding advance tax) |
|
(155,334) |
280,114 |
|
|
|
------------------- |
------------------- |
|
|
|
(1,084,894) |
534,090 |
|
|
| Increase/(Decrease)
in operating liabilities: |
|
| Deposits
and other accounts |
|
886,925 |
(219,250) |
|
| Bills payable |
|
12,575 |
(103,942) |
|
| Other
liabilities (excluding provision for taxation) |
54,787 |
(26,988) |
|
|
------------------- |
------------------- |
|
|
|
954,287 |
(350,180) |
|
|
------------------- |
------------------- |
|
| Cash inflow before tax |
|
252,163 |
639,175 |
|
| Income tax paid |
|
(266,802) |
(168,243) |
|
|
------------------- |
------------------- |
|
| Net
cash (outflow) /inflow from operating activities (balance carried forward) |
(14,639) |
470,932 |
|
|
