Oriental Bank net dips 20.6% in Q4

Oriental Bank of Commerce has reported a 20.6 per cent decline in net profit for the fourth quarter ended March 31, 2012 at Rs 264.90 crore (Rs 333.66 crore).

The bank has recorded a 29.23 per cent increase in total income for the quarter under review at Rs 4,564.50 crore (Rs 3,532.13 crore).

For the year ended March 31, 2012, OBC recorded a 24 per cent decline in net profit at Rs 1,141.56 crore (Rs 1,502.87 crore), according to a filing with the Bombay Stock Exchange.

Total income during the period increased 30.71 per cent to Rs 17,055.13 crore (Rs 13,047.89 crore)

The results had an impact on the counter with the scrip shedding Rs 12.70 or 5.26 per cent to Rs 228.90 with a trading volume of 3.40 lakh shares on the BSE an hour before the close of trading.

The two-week average trading volume in the counter was around 24,000 shares.