Public sector lender UCO Bank 's net profit halved to Rs 103.7 crore in the
second quarter of current financial year from Rs 230.7 crore in a year ago
period due to higher provisions against bad loans.
Net interest income came in flat at Rs 1,013 crore as
against Rs 1,010 crore during the same period.
The provisions against bad loans were Rs 597.1 crore in the
quarter, higher by 46 percent compared to Rs 409 crore in the previous quarter
and 25 percent over Rs 478 crore in a year ago period.
Gross non-performing assets (NPAs) increased 100 basis
points quarter-on-quarter to 4.88 percent while net NPAs rose 71 basis points
QoQ to 2.94 percent during the quarter.
Gross NPAs jumped 27 percent QoQ to Rs 5,887.9 crore and net
NPAs went up by 33 percent to Rs 3,468 crore in the three months period ended
September 2012.
Capital adequacy ratio was 12.27 percent in the September
quarter as against 12.33 percent in the June quarter.
At 13:44 hours IST, the stock rose 2 percent to Rs 75.10
amid heavy volumes on the Bombay Stock Exchange.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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