UCO Bank Q4 Net rises six-fold to Rs 285 crore

State-run UCO Bank today reported a six-fold jump in net profit at Rs 285 crore for the fourth quarter of the financial year 2013-14.

The lender had reported a net profit of Rs 49.5 crore in the corresponding period of the previous fiscal.

The bank's total income increased from Rs 4,527 crore for the quarter ended March 31, 2013, to Rs 5,309 crore for the quarter ended March 31, 2014, the bank said in a filing to the BSE.

The bank said the rise in net profit was due to lower provisioning and cash recovery.

The bank's gross NPAs during the quarter fell to 4.32 per cent from 5.42 per cent earlier.