Public sector lender Punjab National Bank has registered a net profit of Rs 543.7 crore for the fourth quarter ended March 31, up 129 per cent as against Rs 237.71 crore for the same period, previous fiscal.

The revenues of the bank for the fourth quarter jumped, by almost 19 per cent to Rs 4,417 crore as against Rs 3,712.79 crore.

Punjab National Bank said that its full-year net profit for FY’08 rose to Rs 2049 crore from Rs 1540 crore, over the year-ago period. The total income of the bank rose to Rs 16,263 crore for FY'08, from Rs 12,967 crore in the previous fiscal.

The bank has declared a dividend of 130 per cent, at the rate of Rs 13 per share, on every Rs 10 share held, for the year ended March 31.

Yesterday PNB management revealed that it has plans to dilute 20-30 per cent stake in its subsidiaries — PNB Gilts Ltd and PNB Housing. The bank also plans to sell up to 10 per cent of the 25 per cent stake it holds in UTI Asset Management Company.