Calcutta, July 30: Uco Bank has reported a 116.05 per cent jump in net profit in the first quarter of this fiscal at Rs 132.87 crore against Rs 61.51 crore a year ago.

The bank’s interest income rose 26.98 per cent to Rs 1,552.99 crore from Rs 1,223.03 crore a year ago. However, its interest expenditure during the quarter went up 39.54 per cent to Rs 1,137.25 crore from Rs 815.02 crore. Therefore, the bank’s operating profit dipped to Rs 217.02 crore in the quarter from Rs 233.7 crore a year ago.

The bank took a minimum alternate tax credit of Rs 55.71 crore — Rs 15.76 crore for 2006-07 and Rs 39.95 crore for 2007-08 — and showed Rs 45.04 crore of tax drawback. This, along with a lower provisioning for non-performing assets and other contingencies, helped the bank report a higher net profit.

The gross and net non-performing asset of the bank went up during the April-June quarter this year because of loan defaults and leakage. The bank had increased its provisioning for non-performing assets to Rs 109.46 crore from Rs 74.80 crore in the same period of the previous fiscal.