UCO Bank‘s Q1 net profit rises by 41%

UCO Bank has reported results for first quarter ended June 30, 2013.

On standalone basis, the bank has reported a rise of 41.01% in its net profit at Rs 511.11 crore for the quarter, as compared to Rs 362.46 crore for the same quarter in the previous year. Total income of the bank has increased by 5.93% to Rs 4668.81 crore for the quarter under review as compared to Rs 4407.39 crore for the quarter ended June 30, 2012.

Gross non-performing assets (NPAs) improved to 5.58% in the April-June quarter as against 3.88% in the same quarter previous year while, net NPAs increased to 3.15%.