Net income from operations rose by 10.61 per cent to Rs 438 crore (Rs 396 crore). Operating expenses grew by 41.43 per cent to Rs 99 crore (70 crore).

For the nine month period, ICICI has posted 0.25 per cent increase in its net-profit to Rs 794 crore (excluding extraordinary gains) from Rs 792 crore for the corresponding period of the previous fiscal. After adding extraordinary gains, net profit stood at Rs 794 crore (Rs 811 crore).

Net income from operations rose by 18.71 per cent to Rs 1,440 crore (Rs 1,213 crore) while operating expenses rose by 40.49 per cent to Rs 288 crore (Rs 205 crore).

During the nine-month period ended December 31, 2000, the profit before net capital gains/(loss) and other income was Rs 820 crore compared to Rs 684 crore in the nine-month period ended December 31, 1999, resulting in a growth of 20 per cent. The profit after tax for the nine-month period ended December 31, 2000 was impacted by - adverse impact of Rs 183 crore on account of lower capital gains against a net capital gain of Rs 180 crore in the nine month period ended December 31, 1999 there was a loss of Rs three crore in the nine month period ended December 31, 2000; A higher provisioning requirement of about Rs 44 crore. Consequent to the revision of teh Reserve bank of India provisioning guidelines whereby sub-standard assets are to be classified as doubtful assets after 18 months of an asset being classified NPA instead of 24 months; and additional interest expenses about Rs 63 crore - as ICICI replaced a significant portion of its preference shares by lower-cost borrowing consequent to the increase inthe distribution tax rate.

ICICI's total assets grew by 9.4 per cent to Rs 70,648 crore for December 31, 2000 from Rs 64,557 crore for December 31, 1999. Net loans and debentures subscribed to stood at Rs 54,325 crore as on December 31, 2000 an increase of 20 per cent compared to December 31, 1999.