UCO Bank & Zenith Q1 results

CORPORATE SCORECARD

UCO Bank net drops

UCO Bank has posted a 68.31 per cent decline in net profit to Rs 45.01 crore for quarter ended June 30, 2005, against Rs 142 crore posted in quarter ended June 30, 2004.

For the quarter, the bank posted on operating profit of Rs 158.73 crore against . 212 crore as of June 2004 primarily on account of reduced profit on sale of investments.

Similarly, the decline in net profit was owing to higher depreciation provided on transfer of Securities from the available-for-sale category to held-till-maturity category.

Zenith net up 129%

Zenith Infotech Ltd has reported a net profit of Rs 91.23 lakh for the quarter ended June 30, 2005, a 128.53 per cent growth over the Rs 0.39 crore reported for the corresponding quarter the previous fiscal.

The company's total income for the quarter under review grew to Rs 6.06 crore, a growth of 18.72 per cent compared to Rs 5.11 crore posted for the previous corresponding period.