State-run lender Bank of India has announced that its net profit for the fourth quarter ended March 2010 fell by 47.19% to Rs 427.91 crore as against Rs 810.37 crore during the corresponding period of 2009.

The bank recorded a fall of 0.57% in its total Income, which stood at 5,248.22 crore in Q4FY10 from 5,278.47 crore in Q4FY09.

For the fiscal ended March 31, 2010, BoI posted a fall of 42.10% in its net profit at Rs 1741.07 crore as compared to Rs 3007.35 crore for the year ended March 31, 2009.

But, total income during the year surged 5.64% to Rs 20,494.62 crore from Rs 19,399.22 crore in FY09.

The bank's directors have announced dividend of 70% i. e. Rs. 7/- per share on the face value of Rs. 10/- each for the year 2009-10. (With Inputs from Agencies)