UCO Bank announces financial results
UCO Bank has made net profit of Rs.504.52 cr during the quarter ended September 2022 as against net profit of Rs.205.39 cr in the quarter ended September 2021 registering a growth of 145.64%.
During the current quarter ended 31st December, 2022, Dahej terminal processed 154 TBTU of LNG as against 182 TBTU during the previous quarter ended 30th September, 2022 and 196 TBTU during the corresponding quarter ended 31st December, 2021. The overall LNG volume processed by the Company in the current quarter was 167 TBTU, as against the LNG volume processed in the previous and corresponding quarters, which stood at 192 TBTU and 208 TBTU respectively.
During the current nine months ended 31st December, 2022, Dahej terminal processed 532 TBTU of LNG as against 615 TBTU processed during the corresponding nine months ended 31st December, 2021. The overall LNGvolume processed by the Company in the current nine months was 567 TBTU, as against the LNG volume processed in the corresponding nine months, which stood at 657 TBTU.
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The Company has reported highest ever PBT of Rs 1,586 Cr in the current quarter, as against Rs 994 Crore in the previous quarter and Rs 1,533 Cr in the corresponding quarter. The PAT of the current quarter is reported at Rs 1,181 Cr as against the PAT of the previous and corresponding quarters of Rs 744 Cr and Rs 1,144 Cr respectively.
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The Company has reported highest ever turnover of Rs 46,025 Cr in the current nine months as against Rs 32,008 Cr in the corresponding nine months, registering a growth of 44%. The Company has reported highest ever PBT and PAT of Rs 3,517 Cr and 2,626 Cr in the current nine months as against Rs 3,489 Cr and Rs 2,602 Cr respectively in the corresponding nine months.
Due to foreign exchange volatility, the lease liability has an accounting impact of foreign exchange loss amounting to Rs 60 Cr in the current quarter, as per the provisions of the relevant Indian Accounting Standards (Ind AS).
The Company was able to achieve robust financial results despite high LNG prices, owing to optimization in its operation.
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