{"id":16555,"date":"2020-08-21T14:41:59","date_gmt":"2020-08-21T14:41:59","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=16555"},"modified":"2020-08-21T14:41:59","modified_gmt":"2020-08-21T14:41:59","slug":"union-bank-of-india-q1fy21-net-profit-rises-by-48-3-yoy","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=16555","title":{"rendered":"Union Bank of India Q1FY21; net profit rises by 48.3% yoy"},"content":{"rendered":"

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\n\t\"Quarterly<\/div>\n

Union Bank of India announced its quarterly results on August 21, 2020. Total Income grew by 101.2% yoy to Rs19,891.26cr in Q1FY21 from Rs9,887.14cr in Q1FY20. Net interest income (NII) stood at Rs6,403.19cr which\u00a0 witnessed a growth of 154.3% yoy, as against Rs2,518.19cr it reported in Q1FY20. Operating profit for Q1FY21 stood at Rs4,034.09cr which increased by 113.9% yoy as against Rs1,886.41cr in Q1FY20.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Provisions and contingencies increased by 134% yoy to Rs3,555.77cr in\u00a0 Q1FY21, as against Rs1,519.34cr in Q1FY20.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Profit after tax (PAT) stood at Rs332.74cr for the quarter ending June 2020. It grew by 48.3% yoy, as compared to Rs 224.4cr it reported in Q1FY20.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Gross NPA in Q1FY21 stood at Rs97,189.95cr registering a growth of 98% qoq. Net NPA in Q1FY21 came in at Rs28,913.5cr witnessing a growth of 67.1% qoq. Gross NPA(%) stood at 14.95% in Q1FY21,with growth of 80bps qoq as against 14.15% in previous quarter. Net NPA (%) stood at 4.97% in Q1FY21 with a decline of 52bps qoq, compared to 5.49% in previous quarter.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Capital adequacy ratio (%) stood at 11.62% in Q1FY21 that declined by 1.19% qoq, as against 12.81% in previous quarter.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

The share closed at Rs30.45 with gains of 1.84% in today’s session on BSE.\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n

\n\t\t\t\tParticulars<\/strong><\/td>\n

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\n\t\t\t\tQ1FY21<\/strong>
\u00a0(Rs in cr)<\/strong><\/td>\n

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\n\t\t\t\tQ1FY20 (Rs in cr)<\/strong><\/td>\n

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\n\t\t\t\t%Change<\/strong><\/td>\n


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\n\t\t\t\tNet interest income<\/td>\n

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\n\t\t\t\t6,403.19<\/td>\n

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\n\t\t\t\t2,518.19<\/td>\n

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\n\t\t\t\t154.3<\/td>\n


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\n\t\t\t\tOperating profit<\/td>\n

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\n\t\t\t\t4,034.09<\/td>\n

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\n\t\t\t\t1,886.41<\/td>\n

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\n\t\t\t\t113.9<\/td>\n


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\n\t\t\t\tProvisions and contingencies<\/td>\n

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\n\t\t\t\t3,555.77<\/td>\n

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\n\t\t\t\t1,519.34<\/td>\n

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\n\t\t\t\t134.0<\/td>\n


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\n\t\t\t\tNet Profit<\/td>\n

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\n\t\t\t\t332.74<\/td>\n

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\n\t\t\t\t224.43<\/td>\n

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\n\t\t\t\t48.3<\/td>\n


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\n\t\t\t\tParticulars<\/strong><\/td>\n

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\n\t\t\t\tQ1FY21<\/strong><\/td>\n

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\n\t\t\t\tQ4FY20<\/strong><\/td>\n

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\n\t\t\t\tChange<\/strong><\/td>\n


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\n\t\t\t\tGross NPA(%)<\/td>\n

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\n\t\t\t\t14.95<\/td>\n

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\n\t\t\t\t14.15<\/td>\n

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\n\t\t\t\t0.8<\/td>\n


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\n\t\t\t\tNet NPA (%)<\/td>\n

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\n\t\t\t\t4.97<\/td>\n

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\n\t\t\t\t5.49<\/td>\n

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\n\t\t\t\t-0.52<\/td>\n


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Related Story<\/p>\n


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