UBI posts Rs 344.83 crore net loss in Q2

UBI posts Rs 344.83 crore net loss in Q2

"As a result of continued focus on value added products and efficiencies in cost structure, net profit for the quarter ended September 30, 2017 of Rs 42.9 crores has increased by 24 per cent over the corresponding period a year ago", the company said in a statement.

Revenue from operation of the company jumped 2.64 per cent year-on-year to Rs 12,409.65 crore during the quarter under review against Rs 12058.48 crore in the same quarter last year.

The company said the results for the period are not comparable as it include the financials of Aditya Birla Nuvo Ltd (ABNL) and its subsidiaries post its merger with effect from 1 July 2017.

The bank's gross NPA as a percentage of total loans rose to 18.80 per cent in the September quarter of this fiscal from 16.26 per cent during the same period in the previous fiscal.

"In compliance with RBI". Income from other sources were up 11.20 per cent to Rs 1,737 crore.

The total business of the bank stood at Rs 9.71 lakh crore as on September 30, 2017 as against Rs 9.22 lakh crore in the year ago period, up 5.30 per cent.

The company's stock closed 7.94 per cent up at Rs 154.95 apiece on BSE today.

Related Articles

  • Senate Orders Ndume To Resume Wednesday Following Court Order

    Senate Orders Ndume To Resume Wednesday Following Court Order

    Mike Ozekhome, counsel to the senate, on Sunday said the upper legislative chamber "respectfully" disagrees with the judgment. Ekweremadu said the lawmakers agreed that the senator be allowed to resume "without prejudice to the case pending in court".
    Oppo F3 Plus 6GB RAM variant launched: Specs, price and more

    Oppo F3 Plus 6GB RAM variant launched: Specs, price and more

    The selfie-centric smartphone is a mid-range contender from Oppo and comes with good specifications to stand its ground. The only difference in both devices is the amount of RAM onboard, while rest of the specifications remain the same.
    Amazon to launch 'Lord of the Rings' TV show

    Amazon to launch 'Lord of the Rings' TV show

    The deal includes a potential spin-off series alongside the multi-season production commitment. Amazon says it will bring " The Lord of the Rings " to the small screen.
  • Sweden shatter Italy's World Cup dream

    Sweden shatter Italy's World Cup dream

    It marks the end of an era for iconic goalkeeper Gianluigi Buffon who will not be able to compete in a record sixth World Cup. This player stopped playing with Sweden a year and a half ago and we are still talking about him", Andersson told reporters.
    5 arrested following officer-involved shooting, hospital disturbance

    5 arrested following officer-involved shooting, hospital disturbance

    Shortly after police arrived, they reported shots fired, at which time several units "responded and secured the scene". Details are emerging on both the officer-involved shooting and a series of arrests at the Charlton Memorial Hospital.
    Trump picks former pharmaceutical executive as new health secretary

    Trump picks former pharmaceutical executive as new health secretary

    He also pointed to Eli Lilly raising drug prices by double digits while Azar was an executive at the company. Previously, he was president of Lilly USA, an affiliate of Eli Lilly, from January 2012 to January 2017.
  • America's oil and gas output could soar 25% by 2025

    America's oil and gas output could soar 25% by 2025

    Increased oil production from countries not in the OPEC cartel had helped push global output higher in October, the report said. At the same time, the renewable energy sources will become more important.
    Jordin Sparks Announces She's Pregnant & Secretly Married To Dana Isaiah

    Jordin Sparks Announces She's Pregnant & Secretly Married To Dana Isaiah

    It wasn't like, "We want you guys to date.'" Sure, Dana, whatever you say. They eloped while enjoying a Hawaiian vacation with friends.
    Doomsday Warning To Humanity Is Signed By 15K Scientists

    Doomsday Warning To Humanity Is Signed By 15K Scientists

    The scientists said that especially troubling was the "current trajectory of potentially catastrophic climate change". Taking such actions, they conclude, are necessary to avert "widespread misery and catastrophic biodiversity loss".
  • Rian Johnson Directing New Star Wars Trilogy

    Rian Johnson Directing New Star Wars Trilogy

    According to the " Star Wars " website , Lucasfilm and Disney are "immensely proud" of his work on the series' latest installment. Johnson's new trilogy was announced the same time as a live-action TV adaptation of the beloved franchise.
    Switzerland and Croatia qualify for the 2018 World Cup

    Switzerland and Croatia qualify for the 2018 World Cup

    The second leg of Greece-Croatia was largely ceremonial as the Croatians took the first leg 4-1 at home. It was very hard to play with the pitch and our opponents", Stoke City winger Shaqiri said.

    FDx Advisors Inc. Acquires 10427 Shares of TJX Companies, Inc. (The) (TJX)

    The TJX Companies, Inc .is an off-price apparel and home fashions retailer in the United States and across the world. It increased, as 64 investors sold TJX shares while 367 reduced holdings. (The) by 7.2% in the second quarter.