UCO Financial institution This fall internet falls 9.5% to ₹525.77 crore as working revenue declines

State-run UCO Financial institution on Monday reported a 9.5 per cent year-on-year fall in its standalone internet revenue to ₹525.77 crore for the fourth quarter final fiscal as working revenue declined throughout the interval.

The Kolkata-based lender had posted a internet revenue of ₹581.24 crore for the fourth quarter of FY23.

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The financial institution’s working revenue for Q4FY24 stood at ₹1,272.87 crore as in opposition to ₹1,357.05 crore for Q4FY23, in accordance with a inventory trade submitting.

Throughout the interval beneath evaluate, the full earnings of the financial institution grew 17.44 per cent year-on-year to ₹6,984.61 crore from ₹5,946.94 crore within the year-ago interval.

Its gross NPA ratio fell to three.46 per cent for Q4FY24 from 4.78 per cent in the identical quarter of the earlier monetary yr, guaranteeing an enchancment in asset high quality.

Uco Financial institution’s board accepted a capital elevating plan of round 400 crore shares of face worth ₹10 every by numerous modes like QIP, FPO, and so forth and in a number of tranches throughout this fiscal.

The board additionally really useful a dividend of ₹0.28 per share of face worth ₹10 every for the final monetary yr.