Indian Bank Q4 net up 7%

State-owned Indian Bank today reported 7% increase in net profit at Rs 438.86 crore for the fourth quarter ended March 31, 2011.

State-owned Indian Bank on Saturday reported 7% increase in net profit at Rs 438.86 crore for the fourth quarter ended March 31, 2011.

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The bank had a net profit of Rs 409.96 crore during the same quarter of the previous fiscal, Indian Bank informed the Bombay Stock Exchange.

Total income of the bank grew by 23.65% to Rs 2,865.8 crore in the January-March quarter from Rs 2,317.73 crore in the same quarter a year-ago.

The bank proposed a dividend of Rs 7.50 per share of face value of Rs 10 each, or 75%, for 2010-11.

For the whole 2010-11 fiscal, the bank's net profit rose by 10.23% to Rs 1,714.07 crore compared to Rs 1,554.98 crore in the previous year.

During the year, total income expanded by 16.74% to Rs 10,542.91 crore against Rs 9,030.77 crore in 2009-10.