Union Bank of India's Q3FY25 Quarter Results
- 28 Jan 2025
Result Summary
- Union Bank of India reported a 3.2% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 6.5%.
- Its expenses for the quarter were down by 1.7% QoQ and up 7.9% YoY.
- The net profit decreased 2.7% QoQ and increased 27.5% YoY.
- The earnings per share (EPS) of Union Bank of India stood at 6.1 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 31749.18 | 32812.12 | 29801.98 | -3.2% | 6.5% |
Total Expenses | 24238.58 | 24667.20 | 22467.09 | -1.7% | 7.9% |
Provisions & contingencies | 1621.86 | 1739.03 | 1780.56 | -6.7% | -8.9% |
Profit Before Tax | 5888.74 | 6405.89 | 5554.33 | -8.1% | 6.0% |
Tax | 1291.57 | 1684.06 | 1943.93 | -23.3% | -33.6% |
Profit After Tax | 4623.03 | 4750.93 | 3625.39 | -2.7% | 27.5% |
Earnings Per Share | 6.10 | 6.20 | 4.90 | -1.6% | 24.5% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Union Bank of India is a prominent public sector bank in India, providing a wide range of financial products and services. The bank operates in the financial services industry, focusing on retail banking, corporate banking, and treasury operations. Its primary offerings include savings and current accounts, loans, insurance products, investment services, and various digital banking solutions. As a public sector bank, Union Bank of India plays a significant role in the Indian banking industry, contributing to economic development through its financial services and support to various sectors. However, specific recent major developments about the bank are not available in the provided data.
Revenue
In the third quarter of the fiscal year 2025 (Q3FY25), Union Bank of India reported a total income of ₹31,749.18 crores. This represents a 3.2% decline from the previous quarter (Q2FY25), where the total income was ₹32,812.12 crores. However, when compared to the same quarter of the previous fiscal year (Q3FY24), there is a 6.5% increase in total income, which was ₹29,801.98 crores. This year-over-year (YoY) growth suggests an overall increase in revenue generation despite the quarter-over-quarter (QoQ) decline.
Profitability
The bank's profitability in Q3FY25 is reflected in its profit before tax (PBT) and profit after tax (PAT). The PBT for this quarter was ₹5,888.74 crores, marking an 8.1% decrease from Q2FY25's ₹6,405.89 crores. Despite this QoQ decrease, there is a 6.0% YoY increase compared to Q3FY24's PBT of ₹5,554.33 crores. The PAT for Q3FY25 stood at ₹4,623.03 crores, which is a slight decrease of 2.7% from the previous quarter's ₹4,750.93 crores. However, the YoY comparison shows a significant increase of 27.5% from ₹3,625.39 crores in Q3FY24. The effective tax paid in the current quarter was ₹1,291.57 crores, which shows a substantial decrease of 23.3% from the previous quarter and a 33.6% decrease from the corresponding quarter last year.
Operating Metrics
The operating metrics for Union Bank of India in Q3FY25 highlight its expenses and provisions. Total expenses for the quarter were ₹24,238.58 crores, which is a 1.7% decrease from ₹24,667.20 crores in the previous quarter. However, on a YoY basis, there is a 7.9% increase from ₹22,467.09 crores in Q3FY24. Additionally, the bank set aside ₹1,621.86 crores for provisions and contingencies in Q3FY25, representing a 6.7% decrease from the previous quarter's ₹1,739.03 crores, and an 8.9% decrease compared to ₹1,780.56 crores in Q3FY24. The earnings per share (EPS) for the current quarter is ₹6.10, slightly down by 1.6% from ₹6.20 in the previous quarter but showing a YoY increase of 24.5% from ₹4.90 in Q3FY24.
