Bank of India Q4 income at Rs.31921.30 million, recommends 15% final dividend

Bank of India has announced the following Audited results for the quarter & year ended March 31, 2007. The Bank has posted a net profit of Rs 4474.40 million for the quarter ended March 31, 2007 as compared to Rs 2544.20 million for the quarter ended March 31, 2006. Total Income has increased from Rs 23265.80 million for the quarter ended March 31, 2006 to Rs 31921.30 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 11231.70 million for the year ended March 31, 2007 as compared to Rs 7014.40 million for the year ended March 31, 2006. Total Income has increased from Rs 82130.80 million for the year ended March 31, 2006 to Rs 107432.80 million for the year ended March 31, 2007.

The Board of Directors of the Bank at its meeting held on April 23, 2007, inter alia, has recommended a final dividend @ 15% for the financial year 2006-2007 on the equity share capital. Hence it works out a total dividend of 35% on its equity share capital for the year ended March 31, 2007 including interim dividend @ 20% declared and paid in December 2006.

The stock was trading at Rs.182.70, down by Rs.5.60 or 2.97%. The stock hit an intraday high of Rs.192 and low of Rs.182.70. The total traded quantity was 959488 shares compared to 2 week average of 742942.

Source : Equity Bulls

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