Canara Bank Q4 net up 78.67 pc at Rs 898.90 cr

MUMBAI: Canara Bank today posted a growth of 78.67 per cent in its net profit at Rs 898.90 crore for the fourth quarter ended March 31, 2011.

The public sector lender had a net profit of Rs 503.10 crore in the same period last year, Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

Total income of the company increase to Rs 7,350.59 crore in the January-March quarter from Rs 5,506.72 crore in the same period year-ago.

For the year ended March 31, 2011, the lender's net profit jumped by 33.24 per cent to Rs 4,025.89 crore as compared to Rs 3,021.43 crore in the same period last year.

The Board of Directors of the company has proposed a dividend of 110 per cent for the year ended March 31, 2011.

Shares of the company ended the day at Rs 558.55, down 2.81 per cent from the previous close.