Union Bank of India's net down

Public sector lender Union Bank of India closed the first quarter with lower net profit despite an higher income as compared to the same period of the previous year.

In a regulatory filing in BSE, the bank said it posted a net profit of Rs.518.78 crore for the quarter ended on June 30 as compared to Rs.664.11 crore for the quarter that ended on June 30, 2014.

Total income increased from Rs.8,547.56 crore to Rs. 9,043.17 crore.