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Public sector lender Union Bank of India (UBI) has posted a 16.19 per cent rise in net profit to Rs 352.52 crore for the second quarter ended September 30, 2011 compared with Rs 303.39 crore in the July-September quarter of 2010-11 fiscal.
Total income during the quarter under review rose to Rs 5,611.37 crore from Rs 4,461.88 crore in the same period last fiscal, UBI said in a filing to the BSE today.
During the six months ended September 30, 2011 the bank’s net profit fell 9.71 per cent to Rs 816.94 crore from Rs 904.81 crore in the same period in 2010-11.
Total income during the first six months of the current fiscal rose to Rs 11,011.05 crore from Rs 5,582.63 crore in the same period last fiscal, it added.
Shares of UBI were trading at Rs 212.20, down 11.56 per cent from the previous close in the late afternoon trade on the BSE.
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