Bank of India Q4 net up two-fold at Rs 953 cr

State-run lender Bank of India (BoI) today reported a near two-fold rise in net profit to Rs 952.73 crore for the fourth quarter ended March 31, 2012.

The bank had posted net profit of Rs 493.64 crore in the year-ago period.

Total income rose to Rs 8,777.73 crore during the January-March period of FY12 from Rs 7,130 crore during the corresponding period of the previous fiscal, BoI said in a filing to the BSE.

The bank has recommended a dividend of 70% or Rs 7 per share for FY12.

For the full financial year ended March 31, 2012, BoI posted a net profit of Rs 2,677.52 crore, up by 7.58% as compared to Rs 2,488.7 crore in the previous fiscal.

The bank's total income during fiscal under review rose to Rs 31,801.84 crore from Rs 24,393.5 crore in FY11.