Dena Bank reports lower Q4 net profit at Rs.438 million, recommends 8% dividend

Dena 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 438.00 million for the quarter ended March 31, 2007 as compared to Rs 1304.70 million for the quarter ended March 31, 2006. Total Income has increased from Rs 5798.80 million for the quarter ended March 31, 2006 to Rs 6842.40 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 2015.60 million for the year ended March 31, 2007 as compared to Rs 729.90 million for the year ended March 31, 2006. Total Income has increased from Rs 21991.70 million for the year ended March 31, 2006 to Rs 25100.40 million for the year ended March 31, 2007.

The Bank has recommended a Dividend of 8% i.e. Rs 0.80 paisa per equity share of Rs 10/- each for the financial year 2006-2007.

The stock closed the day at Rs.36.90, up by Rs.1.90 or 5.43%. The stock hit an intraday high of Rs.37.30 and low of Rs.35. The total traded quantity was 1839060 compared to 2 week average of 144813.

Source : Equity Bulls

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