United Bank of India shines on reporting over 15-fold jump in Q4 net profit

United Bank of India is currently trading at Rs 37.20, up by 2.50 points or 7.20% from its previous closing of Rs 34.70 on the BSE. The scrip opened at Rs 37.30 and has touched a high and low of Rs 38.10 and Rs 36.75 respectively. So far 585452 shares were traded on the counter. The BSE group 'B ' stock of face value Rs 10 has touched a 52 week high of Rs 61.35 on 10-May-2013 and a 52 week low of Rs 23.40 on 21-Feb-2014. Last one week high and low of the scrip stood at Rs 35.00 and Rs 30.90 respectively. The current market cap of the company is Rs 1924.98 crore. The promoters holding in the company stood at 88.00% while Institutions and Non-Institutions held 5.55% and 6.45% respectively. United Bank of India has reported results for fourth quarter and year ended March 31, 2014. The bank has reported over 15- fold jump in its net profit at Rs 469.37 crore for the quarter ended March 31, 2014 as compared to Rs 31.18 crore for the same quarter in the previous year.  Total income of the bank has increased by 14.39% at Rs 3073.78 crore for quarter under review as compared to Rs 2687.18 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the bank has posted a net loss of Rs 1213.45 crore against net profit of Rs 391.90 crore for the year ended March 31, 2013. However, total income has surged by 14.42% to Rs 11806.16 crore for the year ended March 31, 2014 from Rs 10318.06 crore for the previous year.