UCO Bank Oct-Dec net profit dips 69% at Rs 102 crore
   
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UCO Bank Oct-Dec net profit dips 69% at Rs 102 crore

Last Updated: Tuesday, February 5, 2013, 15:56
 
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UCO Bank Oct-Dec net profit dips 69% at Rs 102 crore
Mumbai: State-owned UCO Bank on Tuesday reported 69.2 percent slump in net profit at Rs 102.47 crore for the quarter ended December 31, 2012 on account of rising bad loans.

Its net profit over the same quarter in the previous fiscal stood at Rs 332.55 crore.

The total income of the bank during October-December of 2012-13 fiscal rose however to Rs 4,360.88 crore, from Rs 3,973.62 crore in the third quarter of the previous fiscal, it said in a filing to the BSE.

Net non-performing assets (NPAs) or bad loans of the bank increased to 3.32 per cent during the quarter, from 2.04 per cent in the corresponding quarter of last fiscal.

In terms of amount, the net NPAs rose to Rs 3,927 crore, from Rs 2,131.07 crore.

For nine-months ended December 2012, the net profit of the bank declined by 33.6 per cent at Rs 568.64 crore from Rs 855.83 crore in the year-ago period.

The total income during the nine-months (April-December) of 2012-13 increased to Rs 19,176.82 crore, from Rs 11,381.29 crore.

Uco Bank scrip was trading at Rs 67.75 on the BSE in late afternoon trade, down 5.18 per cent from the previous close.

PTI



First Published: Tuesday, February 5, 2013, 15:52


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