Union Bank of India Q1 net profit up 36 pc | india | Hindustan Times
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Union Bank of India Q1 net profit up 36 pc

Public sector lender Union Bank of India today reported a growth of 36.01 per cent in net profit for the first quarter ended June 30 to Rs 601.42 crore.

india Updated: Jul 26, 2010 13:15 IST

Public sector lender Union Bank of India on Monday reported a growth of 36.01 per cent in net profit for the first quarter ended June 30 to Rs 601.42 crore.

It had posted a net profit of Rs 442.19 crore for the corresponding quarter of the last fiscal, Union Bank of India said in a filing to the Bombay Stock Exchange.

The bank also reported an increase of 11.25 per cent in total income for the first quarter to Rs 4,120.66 crore against Rs 3,704 crore during the year-ago period.

Union Bank's gross non-performing assets (NPAs) increased to 2.19 per cent during the quarter ended June 30 from 1.95 per cent in the same quarter a year ago, it said.

Its net NPAs also went up to 0.94 per cent during the three-month period from 0.71 per cent during the first quarter of 2009-10.

The bank's revenue from its retail banking operations during the first quarter of the fiscal stood at Rs 1,315.36 crore, up 13.22 per cent over the figure of Rs 1,161.75 crore in the same period of the last fiscal, the filing added.

Its revenue from the corporate banking segment during the quarter ended June 30 went up by 17.63 per cent to Rs 1,690.60 crore, as against Rs 1,437.23 crore in the year-ago period.