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Union Bank of India shares tumble over 10% after Q4 results

Press Trust of India  |  New Delhi 

Shares of of India Wednesday tumbled over 10 per cent after the company's net loss widened to Rs 3,370 crore in the fourth quarter of 2018-19.

The scrip dropped 10.03 per cent to close at Rs 71.30 on the BSE. During the day, it tanked 10.72 per cent to Rs 70.75.

At the NSE, shares plunged 10.27 per cent to close at Rs 71.15.

In terms of volume, 26.32 lakh shares of the company were traded on the BSE during the day, while over three crore shares were traded on the NSE.

The Tuesday reported a net loss of 3,370 crore in the quarter ended March 2019 as compared with a net loss of Rs 2,583 crore in the corresponding quarter year ago.

For fiscal 2018-19, the reported a net loss of Rs 2,948 crore as against Rs 5,247 crore in 2017-18.

The bank's gross NPA improved to 14.98 per cent from 15.73 per cent, while net NPAs stood at 6.85 per cent compared to 8.42 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 15 2019. 17:01 IST