Mumbai: State-run Indian Bank on Monday reported a 63.06% growth rate in net profit at Rs394.07 crore for the fourth quarter ended 31 March, 2009.
The bank had a net profit of Rs241.67 crore in the March quarter of FY’08, Indian Bank said in a filing to the Bombay Stock Exchange.
The total income rose 28.43% to Rs2,148.48 crore during the March quarter from Rs1,672.85 crore in the corresponding period a year-ago.
The board had declared a dividend of 50% at the rate of Rs5 on shares of face value of Rs10 for FY’09.
During the quarter, the bank’s interest income rose 36% to Rs1,856.37 crore, while interest expended was at Rs1,188.81 crore, up 40% over the same period in FY’08.
For the financial year ended 31 March, the state-run lender reported a net profit of Rs1,245.32 crore, up 23.45% over the last year. Indian Bank had a net profit of Rs 1,008.74 crore in FY’08.
The total income rose to Rs7,865.77 crore in FY’09, from Rs6,218.67 crore in the previous fiscal.
Besides, the board has also recommended a dividend of 8.75% for the period April-September 2008 and 10% for the period October-March 2009 on the preference share capital of Rs400 crore, it said.
Shares of Indian Bank were trading at Rs120.50, up 2.86% in the afternoon trade on the BSE.