Federal Bank, one of the oldest traditional lenders in the country, on Friday reported 95.6 per cent growth in net profit at Rs 99.25 crore for the fourth quarter ended March 31, as compared to Rs 50.73 crore for the corresponding quarter last fiscal.
Total income of the lender rose 38.38 per cent to Rs 636.63 crore for the three months ended March 31, as against Rs 460.04 crore for the same period in 2006, Federal Bank informed the Bombay Stock Exchange (BSE).
The Board of Directors of the bank has recommended a dividend of 40 per cent on equity shares.
For the year ended March 31, the bank posted a net profit of Rs 292.73 crore, up 30 per cent, as compared to Rs 225.21 crore for the 12 month period ended March 31, 2006.
Total income also increased by over 27 per cent to Rs 2,104.04 crore as compared to Rs 1,653.48 crore in 2006, it said.
Shares of the Federal Bank were last trading at Rs 276.85, up 2.42 per cent on the BSE.