United Bank Q4 profit down 79% at Rs 31 crore

State-owned United Bank of India today registered 79% fall in net profit at Rs 31.11 crore for the fourth quarter ended March 31, 2013 due to a rise in bad loans.

The bank had recorded a profit of Rs 149.29 crore in the same period of the previous fiscal, United Bank of India said in a filing to the BSE.

Gross non-performing assets (NPAs), as a proportion of advances, rose to 4.25% at the end of March 2013, as against 3.41% in the previous fiscal. Net NPAs also rose to 2.87% during the year from 1.72% at the end of March 2012.

Total income of the bank rose to Rs 2,687.18 crore in January-March quarter as compared to Rs 2,370.15 crore in the same period previous fiscal.

The bank proposed a dividend of 21%, or Rs 2.10, per share for 2012-2013.

For the entire fiscal ended March 31, 2013, the bank's net profit declined by 38% at Rs 391.90 crore, compared to Rs 632.53 crore in 2011-12.

Total income increased to Rs 10,318.06 crore during the year, compared to Rs 8,694 crore in the previous fiscal.