Canara Bank reports Q4 net profit of Rs.505.09 crores, recommends 70% dividend

Canara 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 5050.90 million for the quarter ended March 31, 2007 as compared to Rs 4935.20 million for the quarter ended March 31, 2006. Total Income has increased from Rs 27865.90 million for the quarter ended March 31, 2006 to Rs 38367.10 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 14208.10 million for the year ended March 31, 2007 as compared to Rs 13432.20 million for the year ended March 31, 2006. Total Income has increased from Rs 100270.80 million for the year ended March 31, 2006 to Rs 128155.10 million for the year ended March 31, 2007.

The Board of Directors of the Bank at its meeting held on May 02, 2007, inter alia, has recommended a Dividend @ 70% for the year ended March 31, 2007.

Source : Equity Bulls

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