Union Bank of India tumbled 7.03% to Rs 137.50 at 13:52 IST on BSE after net profit fell 26.66% to Rs 578.96 crore on 12.59% increase in total income to Rs 8444.95 crore in Q4 March 2014 over Q4 March 2013.
The bank announced results during trading hours today, 8 May 2014.
Meanwhile, the BSE Sensex was up 4.59 points, or 0.02%, to 22,328.49.
On BSE, so far 16.40 lakh shares were traded in the counter, compared with an average volume of 4.89 lakh shares in the past one quarter.
The stock hit a high of Rs 148.90 and a low of Rs 136.05 so far during the day. The stock hit a 52-week high of Rs 255 on 9 May 2013. The stock hit a 52-week low of Rs 97.10 on 29 August 2013.
The stock had outperformed the market over the past one month till 7 May 2014, rising 6.71% compared with the Sensex's 0.09% fall. The scrip had also outperformed the market in past one quarter, rising 39.99% as against Sensex's 9.56% rise.
The mid-cap company has an equity capital of Rs 630.30 crore. Face value per share is Rs 10.
Union Bank of India's net profit fell 21.39% to Rs 1696.25 crore on 16.24% increase in total income to Rs 32170.93 crore in the year ended March 2014 over the year ended March 2013.
The bank's ratio of net non-performing assets (NPA) to net advances stood at 2.33% as on 31 March 2014, compared with 2.26% as on 31 December 2013 and 1.61% as on 31 March 2013.
The bank's ratio of gross NPA to gross advances stood at 4.06% as on 31 March 2014, compared with 3.85% as on 31 December 2013 and 2.98% as on 31 March 2013.
Provisions and contingencies rose 40.42% to Rs 920.52 crore in Q4 March 2014 over Q4 March 2013. The provisioning coverage ratio as on 31 March 2014 stood at 59.89%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.12% as on 31 March 2014, compared with 10.12% as on 31 December 2013.
Government of India holds 60.13% stake in Union Bank of India (as on 31 March 2014).
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