Punjab National Bk FY07 net up 7% at Rs 1,540cr

Punjab National Bank (PNB) today reported a 7% increase in net profit at Rs 1,540.08 crore for the year ended March 31, 2007 when compared with Rs 1,439.31 crore in FY06.

According to a release issued to the BSE today, total income increased to Rs 12,579.78 crore from Rs 10,857.65 crore in FY06.

The bank posted a 18% decline in net profit at Rs 237.70 crore for the fourth quarter ended March 31, 2007 as against Rs 288.67 crore in Q4FY06. Total income increased from Rs 2,926.93 crore for the quarter ended March 31, 2006 to Rs 3,712.79 crore in Q4FY07.

The board has recommended a final dividend of 60% i.e Rs 6 per share of Rs 10 each, the release added.