Mumbai: Indian Bank on Saturday registered 7 per cent increase in its net profit by registering Rs 438.86 cr for the fourth quarter that ended on March 31, 2011. 

The bank had a net profit of Rs 409.96 crore during the same quarter of the previous fiscal, Indian Bank informed the Bombay Stock Exchange.

Total income of the bank grew by 23.65 per cent to Rs 2,865.8 crore in the January-March quarter from Rs 2,317.73 crore in the same quarter a year-ago.

 The bank proposed a dividend of Rs 7.50 per share of face value of Rs 10 each, or 75 per cent, for 2010-11.

 For the whole 2010-11 fiscal, the bank's net profit rose by 10.23 per cent to Rs 1,714.07 crore compared to Rs 1,554.98 crore in the previous year.

 During the year, total income expanded by 16.74 per cent to Rs 10,542.91 crore against Rs 9,030.77 crore in 2009-10.