UCO Bank Q4 net slides 80 percent

Kolkata, May 7 (IANS) Public sector lender UCO Bank Tuesday registered 80.40 percent slide in its net profit to Rs.59.55 crore for the quarter ended March 31, 2013 from Rs.252.84 crore during the same period in the previous year.

Total income of the Kolkata-headquartered lender for the fourth quarter last fiscal, however, soared by 7.36 percent to Rs.4,527.06 crore from Rs.4,216.63 crore during the corresponding period previous fiscal, the bank informed Bombay Stock Exchange (BSE).

The bank’s net profit dipped during the period under review mainly due to higher provisioning as provisions and contingencies during the quarter increased to Rs.977 crore from Rs.456 crore during the same period a year ago.

UCO Bank’s gross NPA during the fourth quarter last fiscal increased to 5.42 percent from 3.48 percent during the corresponding period previous fiscal, while its net NPA increased to 3.17 percent from 1.96 percent.

For the full financial year, the bank registered a net profit of Rs.618.19 crore during FY13 against Rs.1,108.67 crore during FY12.

Total income during the last fiscal increased to Rs.17,703.88 crore from Rs.15,597.92 crore in the previous fiscal.

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