UCO Bank Q1 net up 41% at Rs 511 cr

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(Reuters) (Reuters)
SummaryThe total income of the bank rose to Rs 4,668.81 crore in the April-June quarter.

State-owned UCO Bank today reported 41 per cent 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 per cent of gross advances, as against 3.88 per cent in the same quarter of the previous fiscal.

Its net non-performing assets also rose from 3.15 per cent from 2.23 per cent. The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 13.72 per cent.

UCO scrip closed at Rs 69.40 on the BSE, down 5.64 per cent from the previous session.

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