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UCO Bank Q3 net profit skids 69 pc

Posted on Feb 05, 09:54PM | IANS

Kolkata, Feb 5 : State-run UCO Bank Tuesday announced a 69.19 percent slide in its net profit to Rs.102.47 crore for the quarter ended Dec 31 from Rs.332.55 crore for the same period last year.

Total income of the Kolkata-headquartered bank in the quarter, however, increased to Rs.4,360.88 crore from Rs.3,973.62 crore during the corresponding period previous year.

Profit before tax stood at Rs.830.74 crore for the third quarter of the current fiscal as against Rs.760.98 crore for same period last fiscal, the bank informed the Bombay Stock Exchange (BSE).

Provisioning for non-performing assets (NPA) and other contingencies during the period increased to Rs.727.64 crore from Rs.420.45 crore for the quarter ended Dec 31, 2011.

The public sector bank's net non-performing assets to advances increased to 3.32 percent during the quarter from 2.04 percent for the corresponding period in the year ago.