Union Bank’s Q3FY24 Quarter Results
- 20 Jan 2024
- Union Bank reported 2.9% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter ended December (Q3FY24). On a year-on-year (YoY) basis, it witnessed a growth of 21%.
- Its expenses for the quarter were up by 3.6% QoQ and 24.9% YoY.
- The net profit grew 1.5% QoQ and 60.2% YoY.
- The earnings per share (EPS) of Union Bank stood at Rs 4.9 during Q3FY24.
- The bank’s capital adequacy ratio (CAR) stood at 15.01% in Dec 2023 quarter.
- Net non-performing assets (NPAs) were at 1.08% of net advances as of Dec 2023.
Union Bank’s Financial Statements for Q3FY24:
(Rs, crores)
Total income
Q3FY23
24,635.4
Q2FY24
28,952.5
Q3FY24
29,802.0
QoQ (%)
2.9%
YoY (%)
21.0%
(Rs, crores)
Total expenses
Q3FY23
17,988.0
Q2FY24
21,687.5
Q3FY24
22,467.1
QoQ (%)
3.6%
YoY (%)
24.9%
(Rs, crores)
Provisions
Q3FY23
3,071.0
Q2FY24
1,772.8
Q3FY24
1,780.6
QoQ (%)
0.4%
YoY (%)
-42.0%
(Rs, crores)
Profit before tax
Q3FY23
3,576.4
Q2FY24
5,492.3
Q3FY24
5,554.3
QoQ (%)
1.1%
YoY (%)
55.3%
(Rs, crores)
Tax
Q3FY23
1,340.2
Q2FY24
1,944.0
Q3FY24
1,943.9
QoQ (%)
0.0%
YoY (%)
45.1%
(Rs, crores)
Profit after tax
Q3FY23
2,263.7
Q2FY24
3,571.8
Q3FY24
3,625.4
QoQ (%)
1.5%
YoY (%)
60.2%
(Rs, crores)
Earnings per share
Q3FY23
3.3
Q2FY24
5.1
Q3FY24
4.9
QoQ (%)
YoY (%)
| (Rs, crores) | Q3FY23 | Q2FY24 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
| Total income | 24,635.4 | 28,952.5 | 29,802.0 | 2.9% | 21.0% |
| Total expenses | 17,988.0 | 21,687.5 | 22,467.1 | 3.6% | 24.9% |
| Provisions | 3,071.0 | 1,772.8 | 1,780.6 | 0.4% | -42.0% |
| Profit before tax | 3,576.4 | 5,492.3 | 5,554.3 | 1.1% | 55.3% |
| Tax | 1,340.2 | 1,944.0 | 1,943.9 | 0.0% | 45.1% |
| Profit after tax | 2,263.7 | 3,571.8 | 3,625.4 | 1.5% | 60.2% |
| Earnings per share | 3.3 | 5.1 | 4.9 |
Data Source: BSE, Company announcements
The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
