Bank of India March quarter net up 69%

Mumbai: Bank of India on 30 April posted a net profit of Rs757.04 crore for the quarter ending 31 March 2008, up 69.19% over the corresponding period last year.

The company had a net profit of Rs447.44 crore for the year-ago quarter, the bank said in a filing with the National Stock Exchange.

For the year ended 31 March 2008, Bank of India posted net profit of Rs2,009.40 crore against Rs1,123.17 crore last year. It declared a dividend of Rs4 on shares of Rs10 each (40%) for financial year 2007-2008.

The bank earned interest of Rs3,501.61 crore for the 2008 March quarter against Rs2,615.39 crore in the year-ago quarter.

It earned interest of Rs12,355.22 crore for the full year ended March 31, as compared to Rs9,180.33 crore last year.

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