UCO Bank shares plunges 3 pct amid Rs 998 cr loss in Q3

Shares of UCO Bank Friday fell by three per cent after the company reported a loss of Rs 998.74 crore for third quarter ended December 31, 2018. The stock declined 3.05 per cent to close at Rs 17.50 on BSE. Intra-day, it fell six per cent to Rs 16.95. At NSE, shares dropped 1.65 per cent to close at Rs 17.80. The bank had posted a net loss of Rs 1,016.43 crore in the December quarter of 2017-18.

Total income of the bank came down to Rs 3,585.56 crore during the latest quarter as against Rs 3,721.93 crore in the same period of 2017-18, the bank said in a regulatory filing. The lender witnessed worsening asset quality as the gross non-performing assets (NPAs) ballooned to 27.39 per cent of gross loans at end of December 31, 2018, from 20.64 per cent in December 2017.

(With inputs from agencies.)