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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (41)	1/28/2000 9:18:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

ICICI Q3:99-2000 - US GAAP Net Income Up By 51% The Board of Directors of ICICI (NYSE: IC and IC.d) at its meeting held in Mumbai today noted the consolidated unaudited US GAAP accounts of ICICI for the nine month period ended December 31, 1999. As per the unaudited US GAAP financial statements, net income for Q3:99-2000 was Rs. 2.44 billion, up by 51% from Rs. 1.62 billion in the corresponding quarter of the previous year. As per the unaudited US GAAP financial statements, net income during the nine month period ended December 31, 1999 was Rs. 6.70 billion, up by 24% from Rs. 5.39 billion in the corresponding period of the previous year. The net income for both these periods excludes extraordinary income and cumulative effect of change in accounting policy. A clear trend is seen in realignment of US GAAP net income with Indian GAAP net income. US GAAP net income as a percentage of Indian GAAP income increased from 75% for the nine months ended December 31, 1998 to 83% for the nine month period ended December 31, 1999. The stockholders' equity at December 31, 1999 was Rs. 67.39 billion as per US GAAP. The net NPA ratio as per US GAAP was 6.0% at December 31, 1999, down from 6.3% at March 31, 1999. The total capital adequacy as per US GAAP was 15.0% as on December 31, 1999 with Tier 1 at 10.0%.