United Bank tumbles as Q3 profit plunges
06th February 2013 12:18 PM
United Bank of India, a state-owned lender, dropped on Wednesday after it has reported a plunge of 81.33% in net profit of Rs 422 million for the quarter ended Dec. 31, 2012 due to higher provisioning.
The bank made provisions and contingencies of Rs 4.5 billion for December quarter which was 2.26 times higher compared last year quarter.
Total income has gone up 17.4% to Rs 25.99 billion for the quarter ended Dec 31, 2012. Shares ofthe companyare trading at Rs 67.35, down Rs 3.35, or 4.74% at the Bombay Stock Exchange (BSE) on Wednesday at 11:25 a.m.The scrip has touched an intra-day high of Rs 69 and low of Rs 62.20. The total volume of shares traded at the BSE is 113,438.In the earlier session, the shares declined 3.48%, or Rs 2.55, at Rs 70.70. Currently, the stock is trading down 22.72% from its 52-week high of Rs 87.15 and above 35.38% over the 52-week low of Rs 49.75.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 74.45 (3.75) (5.04) 1 Month 83.75 (13.05) (15.58) 3 Months 66.45 4.25 6.40 6 Months 53.40 17.30 32.40 1 Year 71.00 (0.30) (0.42) Note: Based on previous day closing price.
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