Public sector Canara Bank has more than doubled its profit in the March quarter. Along with this, the board of directors of the bank has recommended a dividend of Rs 6.50 per equity share for the last financial year. Understand in simple language, there is a plan to distribute profit of Rs 6.50 on each share.
Quarterly results details: The bank said that its standalone net profit in the fourth quarter of the last financial year has increased by 65 per cent to Rs 1,666.22 crore. The bank had posted a net profit of Rs 1,010.87 crore in the same period of the previous financial year.
At the same time, the total income of the bank increased to Rs 22,323.11 crore in the January-March quarter of 2021-22 from Rs 21,040.63 crore in the same period of 2020-21.
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Full Financial Year Status: The bank’s standalone net profit for the previous financial year more than doubled to Rs 5,678.42 crore as against Rs 2,557.58 crore in the previous financial year. The total income of the bank increased to Rs 85,907.15 crore from Rs 84,204.78 crore.