New Delhi, May 3: Allahabad Bank today said its net profit for the fourth quarter ended March 31, 2008 increased 34.8 per cent to Rs 169.50 crore as compared to Rs 125.73 crore for the corresponding quarter a year ago. The Bank said in a statement that its total income for Q4FY08 grew 30.33 per cent to Rs 1,980.16 crore as against Rs 1,519.29 crore in the same period a year ago.
For the year ended March 31, 2008, the Bank's net profit witnessed a hike of nearly 30 per cent to Rs 974.74 crore, whereas it was Rs 750.14 crore last fiscal. Its total income for FY08 increased 35.6 per cent to Rs 7,135.97 crore from Rs 5,260.26 crore last fiscal. The Group's net profit jumped 31 per cent to Rs 993.98 crore for the year ended March 31, 2008 as compared to Rs 758.75 crore for the year ended March 31, 2007.
The Group's total income for FY08 increased 35.8 per cent to Rs 7,156.41 crore as against Rs 5,267.21 crore last fiscal. The Bank said its Board of Directors had recommended 30 per cent dividend on the equity share capital, which is Rs three per equity share.