UCO Bank logs multi-fold jump in Q2 profit at Rs 205 cr

By: |
October 28, 2021 3:39 PM

Total income in July-September 2021-22 rose to Rs 4,655.86 crore from Rs 4,327.13 crore in the year-ago period, UCO Bank said in a regulatory filing.

UCO Bank stock was trading 0.95 per cent down at Rs 14.54 on BSE. UCO Bank stock was trading 0.95 per cent down at Rs 14.54 on BSE. 

UCO Bank on Thursday reported multi-fold jump in net profit at Rs 205.39 crore for the second quarter ended September 2021 as bad loans fell.

The Kolkata-headquartered public sector lender registered a net profit of Rs 30.12 crore in the year-ago period.
Total income in July-September 2021-22 rose to Rs 4,655.86 crore from Rs 4,327.13 crore in the year-ago period, UCO Bank said in a regulatory filing.

The bank improved on its bad assets significantly as gross non-performing assets (NPAs) fell to 8.98 per cent at the end of September 2021 quarter from 11.62 per cent by the same period of 2020.

Value-wise, gross NPAs fell to Rs 10,909.79 crore as against Rs 13,365.74 crore. Net NPAs (bad loans) stood at 3.37 per cent (Rs 3,854.33 crore) from 3.63 per cent (Rs 3,831.88 crore). As the NPA proportions fell, the bank’s provisions for bad loans and contingencies for the quarter also came down to Rs 1,018.62 crore from Rs 1,301.10 crore marked for the year-ago period.

UCO Bank stock was trading 0.95 per cent down at Rs 14.54 on BSE.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Resignation of Bharat Fin CEO, CFO under board consideration: IndusInd
2RBI imposes Rs 1 cr penalty on Union Bank of India
3SBI signs MoU with Usha International for empowering women entrepreneurs