Published on 19/05/2017 11:38:23 AM | Source: Dion Global Solutions Ltd

United Bank rises over 3% after Rs 73.56 cr profit in Q4

Shares of United Bank of India jumped over 3 per cent on the Bombay Stock Exchange (BSE) after the state-owned lender reported its standalone net profit after tax at Rs 73.56 crore in the January-March quarter of FY 2017.

The bank had posted a standalone net loss of Rs 413.04 crore in corresponding quarter of previous fiscal, United Bank of India said in a filing to the BSE. Cheering the bank’s performance in Q4, shares of the bank rose 3.85 per cent to Rs 22.95 apiece on Bombay Stock Exchange at 11:05 hours.

In a similar fashion, stocks of the bank climb 4.08 per cent to Rs 22.95 apiece, or 0.90 points, on National Stock Exchange at 11:06 hours. Meanwhile, the broader benchmark BSE Sensex was trading at 30,598.60, up 157.77 per cent, or 0.52 points, at 11:06 hours.