The state-owned bank's net profit stood at Rs 307.94 crore in the year-ago period.
The total income of the bank increased to Rs 5,655.36 crore for the quarter ended March 31, 2014 from Rs 4,564.53 crore in the quarter ended March 31, 2013, OBC said in a statement.
For the full-year ended March, the bank's net profit declined 14.2 per cent to Rs 1,139.41 crore from Rs 1,327.95 crore in 2012-13.
Total income increased to Rs 20,962.75 crore for the entire year ended March 31, 2014, from Rs 19,359.49 crore in the previous fiscal.
The board of directors of the bank have proposed a dividend of Rs 3.60 per share in addition to an interim dividend of Rs 4.00 per share for 2013-14.
Shares of OBC were trading at Rs 249.55, up 0.2 per cent, from their previous close in afternoon trade on the BSE.