United Bank of India lost 4.72% to Rs 27.25 at 12:29 IST on BSE after the bank reported a net loss of Rs 1238.08 crore in Q3 December 2013 as against net profit of Rs 42.20 crore in Q3 December 2012.
The Q3 result was announced after market hours on Friday, 7 February 2014.
Meanwhile, the S&P BSE Sensex was down 17.13 points or 0.08% at 20,359.43.
On BSE, so far 1.57 lakh shares were traded in the counter as against average daily volume of 88,333 shares in past one quarter.
The stock hit a low of Rs 26.70 so far during the day, which is a record low for the counter. The stock hit a high of Rs 28 so far during the day. The stock had hit a 52-week high of Rs 69.25 on 20 February 2013.
The stock had underperformed the market over the past one month till 7 February 2014, sliding 11.46% compared with the Sensex's 1.53% fall. The scrip had also underperformed the market in past one quarter, declining 24.54% as against Sensex's 2.14% fall.
The state-run bank has equity capital of Rs 554.75 crore. Face value per share is Rs 10.
United Bank of India's total income rose 14.9% to Rs 2986.80 crore in Q3 December 2013 over Q3 December 2012.
United Bank of India's ratio of gross non-performing assets (NPAs) to gross advances spurted to 10.82% as on 31 December 2013, from 7.52% as on 30 September 2013 and 4.42% as on 31 December 2012. The ratio of net NPAs to net advances surged to 7.44% as on 31 December 2013, from 5.39% as on 30 September 2013 and 2.22% as on 31 December 2012.
United Bank of India's provisions and contingencies spurted 312.9% to Rs 1857.83 crore in Q3 December 2013 over Q3 December 2012. Provision coverage ratio works out to 47.9% as on 31 December 2013.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 9.01% as on 31 December 2013 as against 9.48% as on 30 September 2013.
The Government of India (GoI) holds 88% stake in United Bank of India (as per the shareholding pattern as on 31 December 2013).
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