Union Bank has posted a decline of 40 per cent in its net profit at Rs 303.39 crore for the quarter ended September compared with Rs 505.10 crore in the previous corresponding quarter.
Its total income during the period stood at Rs 4,461.88 crore against Rs 3,760.9 crore last year, up 18.64 per cent.
The bank's operating expenses were up 50.31 per cent during the quarter under review at Rs 914.85 crore compared with Rs 608.64 crore last year in the same period.
Earnings per share stood at Rs 6.01 against Rs 10 per share last year.
During the quarter, Union Bank has received Rs 111 crore from the Government of India as additional capital and has issued perpetual non-cumulative preference shares in July.
On the Bombay Stock Exchange, the shares of the bank were trading weak at Rs 396.40, down 4.99 per cent at 12:43 pm.
