Net profit of UCO Bank reported to Rs 16.78 crore in the quarter ended March 2020 as against net loss of Rs 1552.02 crore during the previous quarter ended March 2019. Total Operating Income declined 1.04% to Rs 3742.43 crore in the quarter ended March 2020 as against Rs 3781.81 crore during the previous quarter ended March 2019.

For the full year,net loss reported to Rs 2436.83 crore in the year ended March 2020 as against net loss of Rs 4321.08 crore during the previous year ended March 2019. Total Operating Income rose 5.61% to Rs 15134.34 crore in the year ended March 2020 as against Rs 14330.63 crore during the previous year ended March 2019.

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Varun Beverages Ltd, IFB Industries Ltd, TTK Prestige Ltd, Central Bank of India are among the other stocks to see a surge in volumes on NSE today, 26 June 2020.

UCO Bank saw volume of 390.87 lakh shares by 14:19 IST on NSE, a 11.3 fold spurt over two-week average daily volume of 34.59 lakh shares. The stock increased 13.26% to Rs.15.80. Volumes stood at 25.86 lakh shares in the last session.

Varun Beverages Ltd notched up volume of 30.37 lakh shares by 14:19 IST on NSE, a 10.14 fold spurt over two-week average daily volume of 3.00 lakh shares. The stock slipped 2.25% to Rs.679.45. Volumes stood at 1.31 lakh shares in the last session.

IFB Industries Ltd recorded volume of 2.55 lakh shares by 14:19 IST on NSE, a 8.15 times surge over two-week average daily volume of 31314 shares. The stock gained 6.32% to Rs.426.45. Volumes stood at 32886 shares in the last session.

TTK Prestige Ltd recorded volume of 32561 shares by 14:19 IST on NSE, a 6.91 times surge over two-week average daily volume of 4711 shares. The stock gained 6.84% to Rs.5,500.00. Volumes stood at 13674 shares in the last session.

Central Bank of India registered volume of 94.36 lakh shares by 14:19 IST on NSE, a 4.66 fold spurt over two-week average daily volume of 20.23 lakh shares. The stock rose 15.94% to Rs.20.00. Volumes stood at 25.27 lakh shares in the last session.

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Total income rose 8.74% to Rs 4511.21 crore in Q4 FY20 from Rs 4148.52 crore in Q4 FY19. The result was announced during market hours today, 26 June 2020.

Provisions and contingencies fell 46.5% to Rs 1199.82 crore in Q4 March 2020 from Rs 2242.58 crore in Q4 March 2019. Provisions for non-performing assets fell 58.13% to Rs 1089.26 crore during the period under review. The non-performing loan provisioning coverage ratio is 85.46% as on 31 March 2020 as against 74.93% as on 31 March 2019.

On the asset quality front, gross non-performing assets stood at Rs 19281.95 crore as on 31 March 2020 as against Rs 22139.65 crore as on 31 December 2019 and Rs 29888.33 crore as on 31 March 2019.

The ratio of gross NPAs to gross advances stood at 16.77% as on 31 March 2020 as against 19.45% as on 31 December 2019 and 25% as on 31 March 2019. The ratio of net NPAs to net advances stood at 5.45% as on 31 March 2020 as against 6.34% as on 31 December 2019 and 9.72% as on 31 March 2019.

The bank has extended asset classification benefit and made provision of Rs 571.54 crore in accordance with RBI guidelines relating to COVID 19 Regulatory Package. The bank's Capital Adequacy Ratio stood at 11.7% in Q4 March 2020 from 10.7% in Q4 March 2019.

UCO Bank is a commercial bank. Its segments include treasury, corporate/wholesale banking, retail banking and other banking operations. It offers personal banking, corporate banking, international banking and rural banking services.

As of 31 March 2020, the Government of India held 94.44% stake in the bank.

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UCO Bank will hold a meeting of the Board of Directors of the Company on 26 June 2020.

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