UCO Bank Q3 standalone net profit trebles to Rs 314 crore

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UCO Bank has reported more than three-fold rise in its standalone net profit at Rs 314.53 crore for the third quarter ended December 31. Reuters UCO Bank has reported more than three-fold rise in its standalone net profit at Rs 314.53 crore for the third quarter ended December 31. Reuters
SummaryUCO Bank's net profit stood at Rs 102.47 crore for the same period last fiscal.

State-owned UCO Bank has reported more than three-fold rise in its standalone net profit at Rs 314.53 crore for the third quarter ended December 31.

The bank's net profit stood at Rs 102.47 crore for the same period last fiscal.

Total income during the quarter increased to Rs 4,919.04 crore from Rs 4,360.88 crore a year ago, it said in a BSE filing.

Net non-performing assets (NPAs) or bad loans of the bank fell to 3.06 per cent during the third quarter, versus 3.32 per cent over the same period a year ago.

Gross NPAs were also trimmed to 5.2 per cent during October-December period of 2013-14 from 5.53 per cent a year earlier.

Shares of the bank today closed down by 2 per cent at Rs 75.95 apiece on the BSE.

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