Andhra Bank Q4 net profit at Rs.1387.70 million, recommends 18% dividend

Andhra Bank has announced the Audited results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007: The Bank has posted a net profit of Rs 1387.70 million for the quarter ended March 31, 2007 as compared to Rs 1385.90 million for the quarter ended March 31, 2006. Total Income has increased from Rs 8502.10 million for the quarter ended March 31, 2006 to Rs 11083.30 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007: The Bank has posted a net profit of Rs 5379.00 million for the year ended March 31, 2007 as compared to Rs 4855.00 million for the year ended March 31, 2006. Total Income has increased from Rs 30666.80 million for the year ended March 31, 2006 to Rs 37622.10 million for the year ended March 31, 2007.

The consolidated results for the Year ended March 31, 2007: The Group has posted a net profit of Rs 5377.50 million for the year ended March 31, 2007 as compared to Rs 4857.90 million for the year ended March 31, 2006. Total Income has increased from Rs 30677.50 million for the year ended March 31, 2006 to Rs 37621.50 million for the year ended March 31, 2007.

The Board of Directors of the Bank at its meeting held on April 30, 2007, inter alia, has recommended a final dividend of 18% in addition to interim dividend of 20% paid already.

Source : Equity Bulls

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