State-run Union Bank of India Ltd. reported results for the September quarter on Thursday, October 30. The stock fell to the lows of the day after slippages increased within the Agri segment.

Union Bank's Net Interest Income, or core income fell by 2.6% on a year-on-year basis to ₹8,812 crore, which although, is higher than the CNBC-TV18 poll expectation of ₹8,744 crore.

Net profit declined by 10% from last year to ₹4,249 crore. A CNBC-TV18 poll had projected a greater fall in profitability for the lender to ₹3,528 crore.

Union Bank's asset quality improved on a sequential basis. Gross NPA at the end of the September quarter stood at 3.29% from 3.52% in June, while Net NPA improved to 0.55% from 0.62% in June.

In absolute terms, Union Bank's Gross NPA stood at ₹32,085 crore from ₹34,31

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