UCO Bank profit up over four-fold in Q1

New Delhi: UCO Bank on Tuesday posted over four-fold jump in its net profit to Rs 101.81 crore for the first quarter ended June 30, as bad loans fell significantly. The bank had reported a net profit of Rs 21.46 crore in the same quarter of the previous fiscal. Sequentially, the net profit rose 27% from Rs 80.03 crore in the March 2021 quarter. The total income during Q1 FY22 increased to Rs 4,539.08 crore, against Rs 4,436.57 crore in Q1 FY21, UCO Bank said in a regulatory filing. However, it was down from Rs 4,936.75 crore in the preceding March quarter. — PTI