The Hindu Business Line : Allahabad Bank Q4 net up 35% to Rs 169 crore

MUMBAI: Public sector Allahabad Bank on Saturday announced a net profit of Rs 169.51 crore for the fourth quarter ended March 31, a 34.81 per cent jump over the corresponding period a year ago.

The bank had a net profit of Rs 125.74 crore in the fourth quarter of the financial year ended March 31, 2007, Allahabad bank said in a filing to the Bombay Stock Exchange.

The total income rose to Rs 1,980.17 crore in the latest quarter, from Rs 1,519.29 crore in the year-ago period. The board of directors has declared a dividend of 30 per cent at the rate Rs three per Rs 10 share for the financial year 2007-08.

For the financial year ended March 31, the group announced a consolidated net profit of Rs 993.98 crore, a 31 per cent growth over the corresponding period a year-ago.

The bank had a net profit of Rs 758.75 crore in the 2006-07 fiscal. The total income rose by 36 per cent to Rs 7,156.41 crore during year ended March 31, from Rs 5,267.21 crore in the previous fiscal.

Kolkata-based bank announced a stand-alone net profit of Rs 974.74 crore for this fiscal, a 29.94 per cent growth over the year-ago period. The bank had a net profit of Rs 750.14 crore a year ago.

The total income rose to Rs 7,135.97 crore for 2007-08 from Rs 5,260.26 crore in the last fiscal. Shares of Allahabad Bank on Friday closed at Rs 87.05, up 3.08 per cent on the BSE. - PTI

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