City Union Bank Q1 net profit rises 16 pc to Rs 306 cr
Last Updated:
New Delhi, Jul 31 (PTI) City Union Bank on Thursday reported a 16 per cent rise in net profit at Rs 306 crore during the first quarter of this financial year.
The private sector lender had earned a net profit of Rs 264 crore in the same quarter of the previous fiscal year.
The total income rose to Rs 1,849 crore during the June quarter of 2025-26, from Rs 1,580 crore in the same quarter of FY25, the Tamil Nadu-based bank said in a regulatory filing.
Interest earned by the bank improved to Rs 1,605 crore, as compared to Rs 1,388 crore in the June quarter of FY25.
During the period, operating profit of the bank increased to Rs 451 crore, as compared to Rs 373 crore in the same quarter a year ago.
The bank's asset quality showed an improvement as gross non-performing assets (NPAs) declined to 2.99 per cent of gross advances at the end of the June quarter, from 3.88 per cent a year ago.
Similarly, net NPAs, or bad loans, declined to 1.2 per cent, as against 1.87 per cent in the year-ago period.
However, provisions and contingencies increased to Rs 70 crore during the first quarter as compared to Rs 39 crore in the same period a year ago.
Capital adequacy ratio of the bank declined to 23.1 per cent, from 23.58 per cent in the same quarter of FY25. PTI DP HVA
(This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
18 minutes ago
- Economic Times
Parth Electricals & Engineering raises Rs 13.8 cr from anchor investors ahead of IPO
Parth Electricals & Engineering, an electrical components manufacturer, on Sunday said it has raised Rs 13.8 crore from anchor investors ahead of the opening of its Rs 49.72 crore initial public offering on August 4. ADVERTISEMENT Capri Global Capital, Beacon Stone Capital, and IndiaMax Investment Fund are among the investors which participated in the anchor investor round, the company said in a statement. The company has fixed the IPO price at Rs 160-170 per share. The Rs 49.72 crore initial public offering (IPO) will hit the capital market on August 4 and concludes on August 6. The shares will be listed on the NSE SME's platform Emerge. The public issue is entirely a fresh issue of 29.25 lakh shares worth Rs 49.72 crore. The company had mobilised Rs 12 crore through a pre-IPO placement. The net proceeds from the issue worth Rs 20 crore will be used towards funding of establishing GIS manufacturing facility in Gujarat, Rs 19 crore for setting up a new manufacturing facility in Odisha, Rs 15 crore for payment of debt and the rest will be used for the general corporate purposes. "From 900 RMUs two years ago, we now produce 3,000 annually. We're also manufacturing around 100 compact sub-stations every year. ADVERTISEMENT "The company currently operates out of a facility in Vadodara, Gujarat, and is investing Rs 40 crore to set up two new plants -- one in Vadodara for gas-insulated switchgear and another in Khurda, Odisha -- to cater to high-growth regions such as eastern India," Parth Electricals & Engineering's Managing Director Jignesh Patel, said. Parth Electricals' order book stood at Rs 140 crore, buoyed by a recent Rs 48 crore contract from Waaree Energies for a 6.5 GW solar project in Navsari. With growing demand from utilities like Tata Odisha, TP Western Odisha Distribution Ltd (TPWODL) , and Damodar Valley Corporation, the company is also doubling down on talent, aiming to expand its workforce from 250 to 550. ADVERTISEMENT The Vadodara-based company's clientele includes Aditya Birla, UltraTech Cement, L&T, Reliance Industries, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, and Jindal Steel & Power. The company reported a revenue from operations of Rs 174.67 crore and profit after tax of Rs 10.11 crore in FY25. Horizon Management is the sole book running lead manager while KFin Technologies is the registrar for the IPO. PTI (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
18 minutes ago
- Mint
Stocks to watch: ITC, Tata Investment, Tata Power, MCX among shares in focus today
Shares of DLF, Tata Investment Corp, Siemens, Marico, Aurobindo Pharma will remain in focus as the companies are all set to announces Q1 results 2025 today. The FMCG giant delivered a mixed performance in the first quarter. Revenue jumped 20.6% year-on-year to ₹ 19,749 crore, surpassing expectations, while EBITDA saw a modest increase of 2.9%, reaching ₹ 6,261 crore. Tata Power posted a 9% increase in its consolidated net profit for the first quarter, reaching ₹ 1,060 crore, up from ₹ 970 crore in the same period last year. Delhivery announced its Q1 earnings, reporting a 67% year-on-year increase in net profit to ₹ 91 crore. The company reported a 4.4% year-on-year rise in net profit for the June quarter, reaching ₹ 1,364 crore, up from ₹ 1,306 crore in the same period last year. The Kerala-based bank reported a 14.7% year-on-year decline in its net profit for Q1FY26, falling to ₹ 861.8 crore. The company has secured an advance work order from BSNL valued at ₹ 166.38 crore for service-related tasks, with the project scheduled for completion by July 31, 2028, according to the terms specified in BSNL's AWO. MCX reported a strong performance in Q1FY26, with net profit jumping 49.9% quarter-on-quarter to ₹ 203 crore, while revenue rose 28.2% to ₹ 373 crore. PNB Housing Finance revealed a major leadership reshuffle, which includes changes among senior management and the resignation of its chief executive. The infrastructure company reported a robust 57% year-on-year increase in net profit, reaching ₹ 244 crore for the first quarter of FY26. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
18 minutes ago
- Time of India
Strides Pharma Breaks Out: Charts Signal Move Above Rs 1,000
'On the daily chart, Strides Pharma stock is exhibiting strength with a positive crossover of the 50-day and 100-day moving averages, indicating a bullish trend in the counter. Traders can buy for a target of Rs 975-1030 in the near term,' Kkunal V. Parar, Vice-President of Technical Research and Algo, Choice Broking, said. Show more Show less
