Union Bank of India standalone net loss at Rs2,583.38cr in Q4FY18, vs. net profit of Rs108.22cr yoy : Misses Estimates

The bank’s standalone NII stood at Rs2,193.10cr, down 8.12% yoy and 13.94% qoq.

May 10, 2018 12:05 IST India Infoline Research Team

Union Bank of India Q4FY18

Standalone Results Q4FY18: ( cr)

Q4FY18 YoY (%)
NII 2,193.10 [8.1]
NPA (%) 15.7 456
Provisions 5,667.90 131.9
Net Loss (adjusted) 2,583.38 -
***NPA change is bps
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Accumulate

Reco. Price

92.8

Last updated on

07-May-2018

Union Bank NII for Q4FY18 has declined by 8.1% yoy to Rs2,193.1cr as against Rs2,387cr yoy. The bank has reported net loss of Rs2,583.4cr in Q4FY18, against profit of Rs108.24cr reported in corresponding quarter last year. Its GNPA for Q4FY18 stood at 15.73% against 13.03% qoq, which has increased by 270bps. NNPA for the quarter came at 8.42% against 6.96% qoq which has increased by 146bps. 


Technical View:

Union Bank of India ended at Rs. 87.65, down by 4.2 points or 4.57% from its previous closing of Rs. 91.85 on the BSE.
The scrip opened at Rs. 92.05 and touched a high and low of Rs. 92.30 and Rs. 87 respectively. A total of 89,91,109 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.


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