UCO Bank shares tank over 6% on disappointing Q4 results

Shares of UCO Bank declined by over 6 per cent today after the company reported a net loss of Rs 1,715.1 crore for the March quarter.
The stock tumbled 5.94 per cent to settle at Rs 34.05 on BSE. During the day, it lost 7.32 per cent to Rs 33.55.
At NSE, shares of the company plunged 6.21 per cent to close at Rs 33.95.
On the volume front, 16 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.
State-owned UCO Bank today reported a net loss of Rs 1,715.1 crore for the March quarter on account of surge in bad loans.

The bank had posted a net profit of Rs 209.2 crore in the January-March quarter of 2014-15, UCO Bank said in a statement.

Total income declined to Rs 4,745.4 crore in the quarter under review as against Rs 5,263.3 crore a year-ago.
As far as asset quality is concerned, the gross NPAs as a percentage to total advances rose significantly to 15.43 per cent in the fourth quarter of the last fiscal as against 6.76 per cent in the same period a year ago.
Its net NPAs also increased to 9.09 per cent from 4.30 per cent at the end of March 2015.