Union Bank posts 27% fall in Q4 net profit at Rs 578.88 crore

The bank had reported a net profit of Rs 789.38 crore in the corresponding quarter of the last financial year

State-owned Union Bank today reported a nearly 27% fall in its net profit at Rs 578.88 crore for the quarter ended March 31, 2014.

The public sector bank had reported a net profit of Rs 789.38 crore in the corresponding quarter of the last financial year (2012-13), Union Bank of India said in a regulatory filing to the stock exchanges.

Total revenue of the bank stood at Rs 8,444.91 crore for the (January-March) quarter in 2014, as against Rs 7,500.59 crore in the same period last fiscal.

The bank's net NPA (non performing assets) during the quarter rose to Rs 5,340.08 crore from Rs 3,353.38 crore in the same period, last fiscal.

Shares of Union Bank were trading at Rs 137.50, down 7.03% on the BSE.