UCO Bank Q4 profit rises 23%

UCO Bank on Saturday reported a 23 per cent rise in its net profit to Rs 801 crore for the fourth quarter ended March 31.

The Kolkata-headquartered public sector lender had posted a net profit of Rs 653 crore in the corresponding January-March quarter of the previous financial year, reflecting steady growth in its bottom line.

Despite the profit increase, the bank’s total income declined during the quarter. It reported income of Rs 7,365 crore, compared to Rs 8,137 crore in the same period a year ago, according to a regulatory filing.

The results highlight improved profitability even as overall income witnessed a dip, indicating operational efficiencies and better asset performance during the quarter.