Federal Bank Q4 net up 11% at Rs 114 cr, declares 50% dividend

Federal Bank today reported a 11 per cent growth in net profit at Rs 114.17 crore for the fourth quarter ended March 31, 2009.

The lender had a net profit of Rs 102.86 crore in the March quarter of FY08, Federal Bank said in a filing to the Bombay Stock Exchange. The total income rose 20.73 per cent to Rs 1,016.28 crore during the March quarter, from Rs 841.79 crore in the corresponding period last fiscal.

The board has declared a dividend of 50 per cent at the rate of Rs 5 per share for the financial year ended March 31, 2009.

For the financial year ended March 31, Federal Bank posted a 31 per cent jump in consolidated net profit at Rs 472.01 crore. It had a net profit of Rs 360.07 crore in FY08.

The total income rose 31.66 per cent to Rs 3,831.39 crore during the fiscal ended March 31, from Rs 2,910.16 crore in the year-ago period.

On a standalone basis, Federal Bank reported a net profit of Rs 500.49 crore for FY09, a 36 per cent growth over the year-ago period. The standalone total income stood at Rs 3,831.15 crore at the end of FY09. Shares of Federal Bank were trading at Rs 238.70, down 4.19 per cent in the afternoon trade on the BSE.