CONSOLIDATED FINANCIAL STATEMENTS
FORTY FOURTH ANNUAL REPORT 2020-21

Statement of Consolidated Profit and Loss for the year ended March 31, 2021

` in Crore

		Notes	Year ended March 31, 2021	Year ended March 31, 2020
I.	Revenue from Operations
	i) Interest Income	30	44,461.55	45,253.26
	ii) Surplus from deployment in Cash Management Schemes of Mutual Funds		812.78	1,118.90
	iii) Dividend Income		38.45	89.21
	iv) Rental Income	31	55.60	47.13
	v) Fees and Commission Income		1,967.72	2,138.82
	vi) Profit on Loss of Control over a Subsidiary	10.1	-	9,799.10
	vii) Net Gain on Fair Value Changes	32	1,971.68	(179.67)
	viii) Profit / (Loss) on Sale of Investments Properties		(2.20)	35.11
	ix) Net gain on derecognised (assigned) loans		1,102.95	967.87
	x) Income from Life Insurance Operations - Policyholder's Funds	33	70,575.18	28,041.47
	xi) Income from Non-Life Insurance Operations - Policyholder's Funds	33	18,050.28	14,414.51
Total Revenue from Operations			1,39,033.99	1,01,725.71
II.	Other Income		37.25	70.19
Total Income (I + II)			1,39,071.24	1,01,795.90
III.	Expenses
	i) Finance costs	34	29,081.26	32,109.45
	ii) Impairment on Financial Instruments (Expected Credit Loss)	35	3,030.76	5,951.12
	iii) Employee Benefit Expenses	36	1,700.67	1,356.66
	iv) Depreciation, Amortisation and Impairment	15	355.35	256.11
	v) Establishment Expenses	37	44.83	56.78
	vii) Expense of Life Insurance Operations - Policyholder's Funds	38	69,387.55	26,618.01
	viii) Expense of Non-Life Insurance Operations - Policyholder's Funds	38	17,196.87	13,934.50
	ix) Other Expenses	39	958.12	1,066.12
Total Expenses			1,21,755.41	81,348.75
IV.	Profit before share of profit of Associates		17,315.83	20,447.15
V.	Share of profit of Associates	9	6,921.47	5,746.10
VI.	Profit Before Tax (IV + V)		24,237.30	26,193.25
VII.	Tax Expense
	- Current Tax		3,937.98	3,415.75
	- Deferred Tax		(188.23)	(48.97)
Total Tax Expense		40	3,749.75	3,366.78
VIII.	Net Profit After Tax (VI - VII)		20,487.55	22,826.47
IX.	Other Comprehensive Income	41
(A)	(i) Items that will not be reclassified to Statement of profit or (loss)		1,940.98	(7,150.50)
	(ii) Income tax relating to items that will not be reclassified to Statement of profit or (loss)		(162.84)	620.12
Subtotal (A)			1,778.14	(6,530.38)
(B)	(i) Items that will be reclassified to Statement of profit or (loss)		80.43	203.97
	(ii) Income tax relating to items that will be reclassified to Statement of profit or (loss)		(20.11)	(31.55)
Subtotal (B)			60.32	172.42
(C)	Share of Other Comprehensive Income of an Associate	9	(256.64)	144.54
Other Comprehensive Income (A+B+C)			1,581.82	(6,213.42)
Total Comprehensive Income (VIII + IX)			22,069.37	16,613.05
Profit Attributable to:
Owners of the Corporation			18,740.06	21,434.57
Non-Controlling Interest			1,747.49	1,391.90
Other Comprehensive Income Attributable to:
Owners of the Corporation			1,565.22	(6,374.24)
Non-Controlling Interest			16.60	160.82
Total Comprehensive Income Attributable to:
Owners of the Corporation			20,305.28	15,060.33
Non-Controlling Interest			1,764.09	1,552.72
Earnings Per Equity Share		43
Basic (`)			105.59	124.14
Diluted (`)			104.70	123.19

See accompanying notes to 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)

Sagar Lakhani
Partner
Membership No. 111855

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

Renu Sud Karnad
Managing Director
(DIN: 00008064)

MUMBAI, May 07, 2021

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)