Mumbai: Indian Overseas Bank (IOB) on Monday announced a net profit of Rs289.76 crore for the fourth quarter (Q4) ended 31 March 2007. The bank’s profit for the same quarter in 2005-06 fiscal was Rs204.44.
The total income of the lender stood at Rs1,935.84 crore for the three months ended 31 March, while the figure was at Rs1,336.94 crore for the same period in 2006, IOB informed the Bombay Stock Exchange.
The bank’s board of directors, at a meeting on 23 April, recommended a dividend of 30% or Rs3 per equity share of Rs10 each for the financial year 2006-07.
IOB said the figures for the current quarter and current year include the operations of erstwhile Bharat Overseas Bank Ltd; hence, the figures were not comparable.
On an annual basis, the bank posted a net profit of Rs1,008.43 crore and total income of Rs6,219.12 crore for the period ended 31 March.