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Shares of Union Bank of India Tuesday surged nearly 9 per cent after the company reported a net profit of ₹139 crore for the quarter ended September 2018.
The scrip advanced by 8.53 per cent to end at ₹75.70 on BSE. During the day, it jumped 13.69 per cent to ₹79.30.
On NSE, shares of the company zoomed 8.60 per cent to close at ₹75.70.
On the equity volume front, 35.60 lakh shares of the company were traded on BSE and over 5 crore shares changed hands on NSE during the day.
State-owned Union Bank of India (UBI) Monday reported a net profit of ₹139.03 crore for the quarter ended September 2018 on lower provisioning for bad loans.
The bank had reported a net loss of ₹ 1,530.72 crore in the corresponding July-September period of 2017-18.
Total income of the bank remained almost flat at ₹9,438.26 crore in the quarter reported, as against ₹9,439.73 crore in the same period of the preceding fiscal, the bank said in a regulatory filing.
Provisions for bad loans fell to ₹1,710.01 crore for July-September period of this fiscal from ₹3,464.71 crore in the corresponding quarter of 2017-18.
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