United Bank of India Q3 net jumps over 3-fold to Rs 64 cr

State-owned United Bank's net profit jumped over three-fold to Rs 64.10 crore during the third quarter ended December 31, 2016. The bank's net profit in corresponding quarter of previous fiscal had stood Rs 17 crore, it said in a BSE filing.

Its total income also increased to Rs 3,086.06 crore during December quarter from Rs 2,827.91 crore in the year-ago period, the bank said.

However, the Kolkata-based public sector lender's interest income declined from Rs 2,470.70 crore in third quarter of last fiscal to Rs 2,271.98 crore in the December quarter of current financial year.

Gross non-performing assets (NPAs) rose to 15.98 per cent of gross advances during the period, from 9.57 per cent a year ago.

In absolute terms, the gross NPAs stood at Rs 10,845.31 crore at the end of December 31, 2016 as against Rs 6,721.53 crore a year earlier.

Net NPAs also increased 10.62 per cent to Rs 6,729.89 crore from 3,965.23 crore in the year-ago period.