Shares of Union Bank of India Tuesday surged nearly 9 per cent after the company reported a net profit of Rs 139 crore for the quarter ended September 2018.
The scrip advanced by 8.53 per cent to end at Rs 75.70 on BSE. During the day, it jumped 13.69 per cent to Rs 79.30.
On NSE, shares of the company zoomed 8.60 per cent to close at Rs 75.70.
On the equity volume front, 35.60 lakh shares of the company were traded on BSE and over 5 crore shares changed hands on NSE during the day.
State-owned Union Bank of India (UBI) Monday reported a net profit of Rs 139.03 crore for the quarter ended September 2018 on lower provisioning for bad loans.
The bank had reported a net loss of Rs 1,530.72 crore in the corresponding July-September period of 2017-18.
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Total income of the bank remained almost flat at Rs 9,438.26 crore in the quarter reported, as against Rs 9,439.73 crore in the same period of the preceding fiscal, the bank said in a regulatory filing.
Provisions for bad loans fell to Rs 1,710.01 crore for July-September period of this fiscal from Rs 3,464.71 crore in the corresponding quarter of 2017-18.
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