Corporation Bank Q4 net profit at Rs.1184.70 million, recommends 50% final dividend

Corporation Bank has announced the following 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 1184.70 million for the quarter ended March 31, 2007 where as the same was at Rs 1002.70 million for the quarter ended March 31, 2006. Total Income is Rs 11426.50 million for the quarter ended March 31, 2007 where as the same was at Rs 8384.70 million for the quarter ended March 31, 2006.

The results for the Year ended March 31, 2007: The Bank has posted a net profit of Rs 5361.40 million for the year ended March 31, 2007 where as the same was at Rs 4444.60 million for the year ended March 31, 2006. Total Income is Rs 39960.00 million for the year ended March 31, 2007 where as the same was at Rs 31000.30 million for the year ended March 31, 2006.

The consolidated results for the Year ended March 31, 2007: The Group has posted a net profit of Rs 5161.90 million for the year ended March 31, 2007 where as the same was at Rs 4430.00 million for the year ended March 31, 2006. Total Income is Rs 40028.60 for the year ended March 31, 2007 where as the same was at Rs 31210.30 million for the year ended March 31, 2006.

Since figures for the yearly financial results include the impact of amalgamation, these are not comparable to the previous period figures.

The Board of Directors of the Bank at its meeting held on April 28, 2007, inter alia, has recommended a final dividend of 50% for the year 2006-07 subject to approval of the shareholders in the Annual General Meeting. With this, the total dividend payout by the Bank for the year 2006-07, including the interim dividend @ 40 % already paid will be 90%.

Source : Equity Bulls

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