CONSOLIDATED FINANCIAL STATEMENTS
FORTY THIRD ANNUAL REPORT 2019-20

Statement of Consolidated Profit and Loss for the year ended March 31, 2020

(` in Crore)

Particulars		Notes	Year ended March 31, 2020	Year ended March 31, 2019
I.	Revenue From Operations
	i) Interest Income	30	45,253.26	41,045.30
	ii) Surplus from deployment in Cash Management		1,118.90	997.71
	Schemes of Mutual Funds
	iii) Dividend Income		89.21	29.47
	iv) Rental Income	31	47.13	68.05
	v) Fees and commission Income		2,138.82	2,475.11
	vi) Profit on Loss of Control	50.3	9,799.10	-
	vii) Net gain on fair value changes	32	(179.67)	711.34
	viii) Profit on Sale of Investments Properties		35.11	21.63
	ix) Net gain on derecognition of assigned loans		967.87	859.99
	x) Income from Life Insurance Operations - Policyholder’s funds	33	28,041.47	37,777.49
	xi)Income from Non-Life Insurance Operations - Policyholder’s funds	33	14,414.51	11,929.22
Total Revenue from Operations			1,01,725.71	95,915.31
II.	Other Income		70.19	279.56
Total Income (I + II)			1,01,795.90	96,194.87
III.	Expenses
	i) Finance costs	34	32,109.45	29,525.78
	ii) Impairment on financial instruments (Expected Credit Loss)	35	5,951.12	991.19
	iii) Employee benefit expenses	36	1,356.66	1,448.37
	iv) Depreciation, amortisation and impairment	15	256.11	96.00
	v) Establishment Expenses	37	56.78	239.71
	vi) Expense of Life Insurance Operations - Policyholder’s funds	38	26,618.01	36,432.07
	vii) Expense of Non-Life Insurance Operations - Policyholder’s funds	38	13,934.50	11,632.86
	viii) Other Expenses	39	1,066.12	1,119.75
Total expenses			81,348.75	81,485.73
IV.	Profit before share of profit of Associates (III - IV)		20,447.15	14,709.14
V.	Share of profit of associates	9	5,746.10	7,389.82
VI.	Profit before tax (IV + V)		26,193.25	22,098.96
VII	Tax expense
	- Current tax		3,415.75	4,370.02
	- Deferred tax		(48.97)	148.43
Total tax expense		13	3,366.78	4,518.45
VIII.	Net Profit After Tax (VI - VII)		22,826.47	17,580.51
IX.	Other comprehensive income	41
(A)	(i) Items that will not be reclassified to profit or (loss)		(7,150.50)	(72.38)
	(ii) Income tax relating to items that will not be reclassified to profit or (loss)		620.12	17.80
Sub Total (A)			(6,530.38)	(54.58)
(B)	(i) Items that will be reclassified to profit or (loss)		203.97	(12.37)
	(ii) Income tax relating to items that will be reclassified to profit or (loss)		(31.55)	(0.60)
Sub Total (B)			172.42	(12.97)
(C)	Share of Other Comprehensive Income of an associate	9	144.54	149.27
Other Comprehensive Income (A+B+C)			(6,213.42)	81.72
Total comprehensive income (VIII + IX)			16,613.05	17,662.23
Profit attributable to:
Owners of the Corporation			21,434.57	16,231.76
Non-Controlling Interest			1,391.90	1,348.75
Other Comprehensive Income attributable to:
Owners of the Corporation			(6,374.24)	119.49
Non-Controlling Interest			160.82	(37.77)
Total Comprehensive Income attributable to:
Owners of the Corporation			15,060.33	16,351.25
Non-Controlling Interest			1,552.72	1,310.98
Earnings per equity share		43
Basic (`)			124.14	95.40
Diluted (`)			123.19	94.66

See accompanying notes forming part of the the consolidated financial statements

As per our report of even date attached.

For B S R & Co. LLP
Chartered Accountants
Firms’ Regst. No: 101248W/W-100022

Deepak S. Parekh
Chairman
(DIN: 00009078)

Akeel Master
Partner
Membership No. 046768

Keki M. Mistry
Vice Chairman &
Chief Executive Officer
(DIN: 00008886)

Renu Sud Karnad
Managing Director
(DIN: 00008064)

MUMBAI, May 25, 20200

Directors

J. J. Irani

(DIN: 00311104)

Nasser Munjee

(DIN: 00010180)

U. K. Sinha

(DIN: 00010336)

Jalaj Dani

(DIN: 00019080)

Bhaskar Ghosh

(DIN: 06656458)

Ireena Vittal

(DIN: 05195656)

V. Srinivasa Rangan

Executive Director &
Chief Financial Officer

(DIN: 00030248)

Ajay Agarwal

Company Secretary
(FCS: 9023)