UCO Bank shed 5.24% to Rs 68.65 at 15:25 IST on BSE after net profit dropped 3.47% to Rs 303.59 crore on 10.74% rise in total income to Rs 5447.39 crore in Q3 December 2014 over Q3 December 2013.
The Q3 result was announced during market hours today, 5 February 2015.
Meanwhile, the BSE Sensex was down 107.05 points, or 0.37%, to 28,776.06.
On BSE, so far 14.99 lakh shares were traded in the counter, compared with an average volume of 4.22 lakh shares in the past one quarter.
The stock hit a high of Rs 72.70 and a low of Rs 68.20 so far during the day. The stock hit a 52-week high of Rs 115.75 on 9 June 2014. The stock hit a 52-week low of Rs 62.05 on 17 February 2014.
The stock had underperformed the market over the past one month till 4 February 2015, falling 15.16% compared with 3.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 18.23% as against Sensex's 3.67% rise.
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The mid-cap PSU bank has equity capital of Rs 1014.71 crore. Face value per share is Rs 10.
UCO Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 6.5% as on 31 December 2014, compared with 5.2% as on 30 September 2014 and 5.2% as on 31 December 2013.
The bank's ratio of net NPAs to net advances stood at 4.25% as on 31 December 2014, compared with 3.15% as on 30 September 2014 and 3.06% as on 31 December 2013.
Provisions and contingencies rose 11.81% to Rs 907.54 crore in Q3 December 2014 over Q3 December 2013. The provisioning coverage ratio as on 31 December 2014 stood at 48.82%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 12.12% as on 31 December 2014, compared with 12.22% as on 30 September 2014 and 11.16% as on 31 December 2013.
UCO Bank said that the board of directors of the bank at its meeting held today, 5 February 2015, has approved a proposal for issue of 6.08 crore shares to Life Insurance Corporation of India on preferential basis at a price to be determined in accordance with Regulation 76 (1) of SEBI ICDR Regulations 2009 subject to necessary approvals from Reserve Bank of India and shareholders of the bank.
The Government of India holds 77.2% stake in the bank (as on 31 December 2014).
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