OBC Q4 net profit plummets to Rs.54.86 Crores, declares 27% final dividend

Oriental Bank of Commerce (OBC) 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 548.60 million for the quarter ended March 31, 2007 as compared to Rs 2049.40 million for the quarter ended March 31, 2006. Total Income has increased from Rs 12335.40 million for the quarter ended March 31, 2006 to Rs 15772.90 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 5808.10 million for the year ended March 31, 2007 as compared to Rs 5571.60 million for the year ended March 31, 2006. Total Income has increased from Rs 46716.90 million for the year ended March 31, 2006 to Rs 57681.60 million for the year ended March 31, 2007.

The Board of Directors of the Bank at its meeting held on April 28, 2007, inter alia, has declared Dividend @ 47% (including interim dividend of 20% paid) subject to the permission by R.B.I.

Source : Equity Bulls

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