State-owned UCO Bank on Friday reported 80.8 percent year-on-year (YoY) jump in net profit at Rs 223.5 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, UCO Bank posted a net profit of Rs 124 crore, the company said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 21.8 percent year-on-year to Rs 2,008.8 crore as against Rs 1,649.6 crore.

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The gross non-performing asset (GNPA) stood at 4.48 percent in the June quarter against 4.78 percent in the March quarter. Net NPA came at 1.18 percent against 1.29 percent quarter-on-quarter.

The results came after the close of the market hours. Shares of UCO Bank ended at Rs 28.78, down by Rs 0.43, or 1.47 percent on the BSE.