Private sector lender City Union Bank reported first quarter net profit at Rs 44.4 crore, up 41 per cent from Rs 31.5 crore in the year-ago quarter.

The diluted earnings per share shot up 34 per cent to Rs 1.10 per share in the April-June quarter from Rs 0.82 a share in the corresponding quarter last fiscal.

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The interest earned during the quarter rose to Rs 267.2 crore, up from Rs 228.3 crore last fiscal.

The Tamil Nadu-based bank managed to cut down its gross non-performing assets (NPA) to 1.30 per cent of its total outstanding advances in the quarter from 1.96 per cent.

The gross NPA fell to Rs 93.4 crore in the June quarter from Rs 108.7 crore year-on-year.

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