Union Bank of India profit rises 10% to Rs 511 crore in Apr-Jun

Union Bank of India profit rises 10% to Rs 511 crore in Apr-Jun Mumbai: Union Bank of India on Friday reported 10.15 percent rise in net profit to Rs 511.59 crore for the April-June quarter of this fiscal.

The state-run bank had a profit of Rs 464.42 crore during the corresponding period of the previous fiscal.

During the period, total income of UBI increased to Rs 6,561.10 crore from Rs 5,399.68 crore for the quarter ended June 30, 2011, it said in a filing to the BSE.

It further said the gross non-performing asset during the period grew to Rs 6,541.46 crore from Rs 3,745.10 crore.

Also, the bank maintained capital adequacy ratio at 11.64 percent during the April-June quarter of 2012-13, against a CAR of 12.88 percent in the same period of the previous fiscal, it said.

Shares of UBI were trading at Rs 164.5 apiece, down 7.61 percent, on the BSE.

PTI