UCO Bank Q1 net up 41% at Rs 511 cr
State-owned UCO Bank Friday reported 41 percent growth in net profit at Rs 511.11 crore for the first quarter ended June 30, 2013.
New Delhi: State-owned UCO Bank Friday reported 41 percent growth in net profit at Rs 511.11 crore for the first quarter ended June 30, 2013.
It had earned net profit of Rs 362.46 crore in the April- June quarter of the 2012-13, UCO Bank informed the BSE.
The total income of the bank rose to Rs 4,668.81 crore in the April-June quarter, from Rs 4,407.39 crore in the same period last year.
As of June 30, UCO Bank's portfolio quality deteriorated further, with gross non-performing assets (NPAs) rising to 5.58 percent of gross advances, as against 3.88 percent in the same quarter of the previous fiscal.
Its net non-performing assets also rose from 3.15 percent from 2.23 percent.
The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 13.72 percent.
UCO scrip closed at Rs 69.40 on the BSE, down 5.64 percent from the previous session.