IOB Q4 net up at 5.58% to Rs 305.95 cr

New Delhi, Apr 28 (UNI) State-run Indian Overseas Bank (IOB) today said its net profit increased 5.58 per cent at Rs 305.95 crore for the fourth quarter ended March 2008, against Rs 289.76 crore in the corresponding quarter last year.

The total income has increased 27.48 per cent to Rs 2,467.95 crore for the quarter ended March 2008 from Rs 1,935.84 crore in the same period a year ago, a company statement said.

The Bank's net profit increased 19.22 per cent to Rs 1,202.33 crore for the year ended March 2008, as compared to Rs 1,008.43 crore for the year ended March 2007.

The total income has increased 41.11 per cent to Rs 8,775.86 crore for the year ended March 2008 from Rs 6,219.12 crore for the year ended March 2007.

The Board of Directors of the Bank have also recommended a dividend of 32 per cent, Rs 3.20 per Equity share of Rs 10/- each, for FY08, the statement added.

UNI BJR PDT DS1418