Indian Bank Q4 net up 7% at Rs 438.86cr, declares 75% dividend

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

The bank had a net profit of409.96 crores during the same quarter of the previous fiscal, Indian Bank informed the Bombay Stock Exchange.

Total income of the bank grew by 23.65 per cent to2,865.8 crores in the January-March quarter from2,317.73 crores in the same quarter a year-ago.

The bank proposed a dividend of7.50 per share of face value of10 each, or 75 per cent, for 2010-11.

For the whole 2010-11 fiscal, the bank's net profit rose by 10.23 per cent to1,714.07 crore compared to1,554.98 crores in the 2010.

During the year, total income expanded by 16.74 per cent to10,542.91 crore against9,030.77 crore in 2009-10.