Union Bank shares gain 7% after posting Q3 results; check details here

On Monday, after market hours, Union Bank of India reported a 28.24 per cent year-on-year (Y-o-Y) increase in its consolidated net profit in Q3FY25 at Rs 4,604 crore, up from Rs 3,610.1 a year ago

Union Bank of India shares gained 6.9 per cent in Tuesday's trade, logging an intraday high at Rs 113 per share. The stock advanced despite the bank posted mixed Q3 numbers. 

 

Around 10:18 AM, Union Bank shares were up 2.98 per cent at Rs 108.8 per share on BSE. In comparison, the BSE Sensex was up 0.47 per cent at 75,721.20. The market capitalisation of the company stood at Rs 83,053.63 crore. The 52-week high of the stock was at Rs 172.45 per share and the 52-week low was at Rs 100.75 per share. 

 

On Monday, after market hours, Union Bank of India reported a 28.24 per cent year-on-year (Y-o-Y) increase in its consolidated net profit in Q3FY25 at Rs 4,604 crore, up from Rs 3,610.1 reported in Q3FY24. However, on a quarter-on-quarter (Q-o-Q) basis, the lender’s net profit declined by 2.46 per cent from Rs 4,720 crore in the September quarter of 2024.

 

Its net interest income (NII) grew marginally by 0.79 per cent Y-o-Y to Rs 9,240 crore in Q3FY25, compared to Rs 9,168 crore a year ago. The bank's net interest margin (NIM) moderated to 2.91 per cent in Q3FY25, down from 3.08 per cent in Q3FY24. 

 

The lender’s provisions for non-performing assets (NPAs) increased to Rs 1,477.3 crore in Q3FY25, compared to Rs 1,226.3 crore in Q3FY24. The asset quality profile improved, with gross NPAs declining to 3.85 per cent in December 2024 from 4.83 per cent in December 2023. Net NPAs also declined to 0.82 per cent in December 2024, compared to 1.08 per cent in December 2023. 

 

Non-interest income, including fees, commissions, treasury revenues, and recoveries, rose by 17.02 per cent Y-o-Y to Rs 4,417 crore. Union Bank’s advances grew by 5.94 per cent Y-o-Y to Rs 9.5 trillion in Q3FY25. Retail advances grew by 16.36 per cent Y-o-Y to Rs 2.01 trillion in December 2024.

 

Total deposits increased by 3.76 per cent Y-o-Y to Rs 12.16 trillion. The share of low-cost deposits—current account and savings account (CASA)—declined to 33.43 per cent in December 2024 from 34.40 per cent a year ago.

 

In the past one year, Union Bank shares have lost 25 per cent against Sensex's rise of 4.7 per cent.