UCO Bank's Q2 FY25 financials show decrease in NPA and increase in core business performance.
UCO Bank, one of the leading public banks in India, has recently declared its financial results for the quarter ending September 2024. The stock call for the bank by MarketsMOJO is ‘Sell’. However, the bank has shown positive financial performance in this quarter, with a score of 16, which is a slight decrease from the previous quarter’s score of 17.
One of the key highlights of UCO Bank’s financials for this quarter is the decrease in gross non-performing assets (NPA) to 3.18%, which has been consistently falling in the last five quarters. This indicates that the proportion of stressed loans given by the bank is also decreasing. Additionally, the bank’s net interest income has shown a steady growth in the last five quarters, with the highest at Rs 2,300.34 crore in this quarter. This shows that the bank’s core business is performing well.
Another positive aspect of UCO Bank’s financials is the increase in interest earned, which has been growing each quarter in the last five quarters. This indicates a positive sales trend in the near term. The bank’s profit after tax (PAT) has also shown a consistent growth in the last five quarters, with the highest at Rs 602.74 crore in this quarter. This reflects a positive trend in the near term for the bank’s profitability.
On the other hand, the bank’s operating cash flow has been consistently falling in the last three years, with the lowest at Rs 1,001.75 crore in this quarter. This indicates a decrease in cash revenues from business operations. Additionally, the non-operating income for this quarter is 105.79% of the profit before tax (PBT), which is a cause for concern as it shows a high reliance on non-business activities for income.
In conclusion, UCO Bank has shown a positive financial performance in the quarter ending September 2024, with a decrease in gross NPA and an increase in net interest income and PAT. However, the bank needs to address the decrease in operating cash flow and the high reliance on non-business income for sustainable growth in the future.
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