Indian Overseas Bank (IOB) has reported a 27% increase in net profit at Rs 651.36 crore for the year ended March 31, 2005 as against Rs 512.76 crore in FY04.According to a release issued by the bank to the BSE today, total income increased to Rs 4,590.85 crore for the year ended March 31, 2005 from Rs 4,494.76 crore in FY04.The bank has posted a net profit of Rs 157.21 crore for the fourth quarter ended March 31, 2005 as against Rs 77.34 crore in Q4FY04. Total income increased to Rs 1,139.98 crore for the quarter ended March 31, 2005 from Rs 1,158.99 crore in Q4FY04.The board has recommended a final dividend of 10% i.e. Re 1.00 per share of Rs 10 each for FY05. This is in addition to the 14% interim dividend paid on November 24, 2004, the release added.
