UCO Bank's Q3FY25 Quarter Results
- 2d ago
Result Summary
- UCO Bank reported a 4.7% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 15.5%.
- Its expenses for the quarter were up by 3.2% QoQ and 9.9% YoY.
- The net profit increased 5.5% QoQ and increased 26.7% YoY.
- The earnings per share (EPS) of UCO Bank stood at 0.5 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 7405.89 | 7071.43 | 6412.71 | 4.7% | 15.5% |
Total Expenses | 5820.20 | 5639.83 | 5293.57 | 3.2% | 9.9% |
Provisions & contingencies | 589.51 | 492.84 | 342.25 | 19.6% | 72.2% |
Profit Before Tax | 996.18 | 938.76 | 776.89 | 6.1% | 28.2% |
Tax | 357.35 | 336.02 | 274.06 | 6.3% | 30.4% |
Profit After Tax | 640.16 | 606.80 | 505.23 | 5.5% | 26.7% |
Earnings Per Share | 0.50 | 0.50 | 0.40 | 0.0% | 25.0% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
UCO Bank, a prominent public sector bank in India, provides a broad range of banking and financial services. As a key player in the Indian banking industry, it offers services such as personal banking, corporate banking, international banking, and treasury operations. The bank is well-known for its diverse product portfolio, including savings and current accounts, fixed deposits, loans, and investment services. UCO Bank has a significant presence across India with a network of branches and ATMs, serving both individual customers and businesses. Recent developments include digital transformation initiatives to enhance customer experience and operational efficiency, although specific details are not available in this report.
Revenue
In Q3FY25, UCO Bank reported a total income of ₹7405.89 crores, marking a 4.7% increase quarter-over-quarter (QoQ) from ₹7071.43 crores in Q2FY25, and a 15.5% rise year-over-year (YoY) from ₹6412.71 crores in Q3FY24. This growth indicates an upward trajectory in the bank's revenue generation capabilities over the past year. The sustained increase in total income suggests robust revenue streams, potentially from interest income, fee-based services, or other banking operations. The bank's ability to enhance its income both YoY and QoQ reflects its strategic initiatives and market positioning in the financial services sector.
Profitability
UCO Bank's profitability metrics for Q3FY25 indicate a positive performance trend. The profit before tax stood at ₹996.18 crores, up 6.1% QoQ from ₹938.76 crores in Q2FY25 and 28.2% YoY from ₹776.89 crores in Q3FY24. The profit after tax followed a similar pattern, increasing to ₹640.16 crores, which represents a 5.5% QoQ rise from ₹606.80 crores and a 26.7% YoY growth from ₹505.23 crores. This growth in profitability is accompanied by an increase in tax expenses, which rose by 6.3% QoQ and 30.4% YoY, reflecting higher taxable income. Earnings per share remained consistent QoQ at 0.50, but increased by 25.0% YoY from 0.40, demonstrating improved earnings distribution to shareholders. The positive trends in these profitability metrics highlight the bank's efficient cost management and revenue growth.
Operating Metrics
Total expenses for UCO Bank in Q3FY25 were ₹5820.20 crores, showing a 3.2% increase QoQ from ₹5639.83 crores in Q2FY25 and a 9.9% rise YoY from ₹5293.57 crores in Q3FY24. The provisions and contingencies also saw a substantial increase, reaching ₹589.51 crores, which represents a 19.6% rise QoQ from ₹492.84 crores and a significant 72.2% growth YoY from ₹342.25 crores. These figures suggest an ongoing emphasis on maintaining adequate risk buffers and addressing potential credit risks. The operating metrics indicate careful management of the bank’s operational costs and risk provisions, crucial for sustaining long-term financial health and compliance with regulatory requirements.
