UCO Bank's Q2FY19 standalone net loss widens 82.5% yoy to Rs1,136.4cr: Misses Estimates

The bank’s standalone NII in the quarter stood at Rs965cr, up 47.22% yoy but down 21.42% qoq.

Nov 12, 2018 11:11 IST India Infoline Research Team

UCO Bank Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
NII 965 47.2
GNPA  25.4 34
Provisions 1,642.5 90.0
Net Loss (adjusted) 1,136.4 [82.5]
***GNPA change is in bps on qoq basis

UCO Bank's revenue in Q2FY19 declined 0.2% yoy to Rs3,749cr. Its NII for the quarter came in at Rs965cr as against Rs655cr, an increase of 47.2% yoy. The bank reported a net loss of Rs1,136cr in Q2FY19 vs. a net loss of Rs623cr in the corresponding quarter of the previous fiscal. The bank's GNPA for the quarter under review stood at 25.37% against 25.71% qoq, a decline of 34bps. NNPA for the quarter came in at 11.97% against 12.74% qoq, a declined of 77bps.
  • Provisions for the quarter came in at Rs1,643cr as against Rs865cr last year, up 90% yoy.

Technical View:

UCO Bank ended at Rs20.20, down 0.9 points, or 4.27%, from its previous close of Rs21.10 on the BSE. The scrip opened at Rs21 and touched a high and low of Rs21.05 and Rs20, respectively. A total of 10,12,545 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200-DMA.

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