Allahabad Bank today posted a 34.81 per cent increase in net profit for the quarter ended March 2008 to Rs 169.51 crore from Rs 125.74 crore in the corresponding period last year.
The operating profit for the quarter was Rs 369.94 crore, up 14.47 per cent compared with Rs 323.21 crore a year ago. In the same period, the Kolkata-based bank reported a total income of Rs 1,980.17 crore, up 30.34 per cent from Rs 1,519.29 crore.
The bank's board has declared a dividend of 30 per cent at the rate Rs 3 for a Rs 10 share for 2007-08. For the full financial year 2007-08 the bank's net profit rose by 29.94 per cent to Rs 974 crore from Rs 750.14 crore a year ago.
Total business registerd a growth of 20.18 per cent during 2007-08 to Rs 1,21,928 crore from Rs 1,01,458 crore and the total income of the bank rose to Rs 7,135.97 crore for 2007-08 from Rs 5,260.26 crore in the last financial year.
The bank's deposits grew by 20.27 per cent to Rs 71,616 crore from Rs 59,544 crore, while advances increased by 20.04 per cent to Rs 50,312 crore from Rs 41,914 crore in the period under review.
Kesoram Ind Q4 net rises 32%
B K Birla group company Kesoram Industries has posted a 32.1 per cent rise in net profit for the fourth quarter ended March 31, 2008 at Rs 105.79 crore as compared to Rs 80.08 crore in the same period last financial year.
Total income of the company during the fourth quarter rose 31.7 per cent to Rs 1,013.75 crore as against Rs 769.30 crore in the corresponding quarter last year.
For the financial year 2007-08, net profit of the company grew 44.1 per cent at Rs 383.35 crore, against Rs 265.88 crore. Total income during the period increased 35.6 per cent at Rs 3,479.17 crore as compared to Rs 2,565.49 crore.
A company spokesman said that cement was the largest revenue contributor followed by tyres.
During the last financial year, revenue from the cement business stood at Rs 1,719.20 crore, while that from tyre stood at Rs 1,389.04 crore. Kesoram was also increasing the capacity of its cement and tyre manufacturing facilities, the spokesman said. PTI
