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Union Bank of India slides after poor Q1 earnings

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of lost 4.95% to Rs 127.80 at 12:43 on after net profit fell 29.9% to Rs 116.58 crore on 7.3% growth in total to Rs 9567.69 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hour yesterday, 10 August 2017.

Meanwhile, the S&P Sensex was down 239.43 points or 0.76% at 31,291.90. The S&P Mid-Cap index rose 28.64 points or 0.19% at 14,784.49.

On the BSE, 10.07 lakh shares were traded on the counter so far as against the average daily volumes of 4.83 lakh shares in the past one quarter. The stock had hit a high of Rs 129.60 and a low of Rs 124.25 so far during the day. The stock had hit a 52-week high of Rs 205 on 5 May 2017 and a 52-week low of Rs 116.25 on 9 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 14.17% compared with the Sensex's 0.58% fall. The stock had also underperformed the market over the past one quarter, declining 23.91% as against the Sensex's 4.24% rise. The scrip had also underperformed the market over the past one year, advancing 6.62% as against the Sensex's 13.52% rise.

The mid-cap has equity capital of Rs 726.43 crore. Face value per share is Rs 10.

The bank's gross non-performing assets (NPAs) stood at Rs 37286.33 crore as on 30 June 2017 as against Rs 33712.28 crore as on 31 March 2017 and Rs 27280.90 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 12.63% as on 30 June 2017 as against 11.17% as on 31 March 2017 and 10.16% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 7.47% as on 30 June 2017 as against 6.57% as on 31 March 2017 and 6.16% as on 30 June 2016.

The bank's provisions and contingencies rose 25.9% to Rs 1703.71 crore in Q1 June 2017 over Q1 June 2016.

The Government of held 63.44% stake in of as per the shareholding pattern as on 31 March 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 12:43 IST
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