UTI Bank reported a 45.02 per cent increase in net profit to Rs 52.18 crore for the first quarter ended June 30, 2003 compared with Rs 35.98 crore for the corresponding quarter in the previous fiscal.
Total income increased by 38.89 per cent to Rs 544.20 crore, on the back of a sharp spurt in other income, against Rs 391.80 crore. Interest income increased by 18.67 per cent to Rs 393.94 crore (Rs 331.94 crore).
Other income spurted by 151.01 per cent to Rs 150.26 crore against Rs 59.86 crore in the previous year.
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Trading profits for the first quarter was at Rs 117.71 crore compared with Rs 25.10 crore in the first quarter of the previous fiscal.
While fee income showed a marginal decline of 6 per cent to Rs 32.55 crore against Rs 34.76 crore.
Interest expenses showed a marginal decline to Rs 273.74 crore against Rs 274.55 crore. Operating expenses increased by 35.33 per cent to Rs 81.70 crore (Rs 60.37 crore).
Provisions and contingencies was at Rs 91.71 crore for the quarter against a negative Rs 0.85 crore in the previous year.