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UCO Bank H1 net dives to Rs 143 crore.
(From Business Line)
from BUSINESS LINE, November 01, 2005 Kolkata, Oct. 31 - UCO Bank has reported a net profit of Rs 143 crore for the first half of 2005-06, a whopping Rs 140-crore decline when compared to that in the corresponding period of the previous year
The bank's year-on-year operating profit dropped by over Rs 100 crore from Rs 438 crore as of September 2004 to Rs 326 crore. This is on account of a lower profit on sale of investments, higher amortisation expenses and higher staff costs (following a salary revision)
The drop in net profit is also partly due to a provision of Rs 167 crore made for mark-to-market depreciation on transfer of …
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