UNIONBANK · Financial Services
Union Bank of India reported total income of ₹26,720 cr for October to December 2024, +4.7% on the year and −0.6% on the quarter.
Net interest income, interest earned less interest paid, was ₹9,370 cr, +0.9% on the year and +2.2% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹4,623 cr, +27.5% on the year and −2.7% on the quarter, with earnings per share of ₹6.06. The tax rate was 22% against an average of 33% over the previous 6 quarters, which lifted profit this quarter.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹24,732 cr | ₹25,521 cr | ₹26,510 cr | ₹26,527 cr | ₹26,887 cr | ₹26,720 cr | ₹27,869 cr | ₹27,099 cr | ₹26,205 cr | ₹26,819 cr | ₹26,676 cr | ₹27,427 cr |
| YoY | — | — | — | +12% | +9% | +5% | +5% | +2% | −3% | +0% | −4% | +1% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 35% | 35% | 37% | 27% | 26% | 22% | 19% | 21% | 21% | 24% | 23% | 24% |
| Net profit | ₹3,572 cr | ₹3,625 cr | ₹3,328 cr | ₹3,642 cr | ₹4,751 cr | ₹4,623 cr | ₹5,011 cr | ₹4,428 cr | ₹4,426 cr | ₹5,073 cr | ₹5,504 cr | ₹5,642 cr |
| YoY | — | — | — | +11% | +33% | +28% | +51% | +22% | −7% | +10% | +10% | +27% |
| EPS | ₹4.82 | ₹4.89 | ₹4.36 | ₹4.77 | ₹6.22 | ₹6.06 | ₹6.56 | ₹5.80 | ₹5.80 | ₹6.65 | ₹7.21 | ₹7.39 |
| Flags | · | · | · | · | 1 | 1 | 1 | 1 | · | · | · | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Union Bank of India reported total income of ₹26,720 cr (+4.7% on the year) and net profit of ₹4,623 cr (+27.5% on the year) for October to December 2024.
1 check raised a question: Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.