UCO Bank reports 2% rise in Q1 net profit

UCO Bank has reported results for first quarter ended June 30, 2014.

The bank’s net profit for the quarter increased by 2.01% at Rs 521.40 crore as compared to Rs 511.11 crore for the quarter ended June 30, 2013. Its total income has surged by 15.56% to Rs 5395.17 crore for the quarter under review from Rs 4668.81 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal stood at 4.31%, as compared to 5.58% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.33% in Q1FY15.