Union Bank Shares Plunge Amid Earnings Disappointment

Shares of Union Bank of India plummeted over 7% on Thursday as the bank's latest quarterly earnings fell short of investor expectations. A noticeable decline in net interest income contributed to the downward trend.

The state-owned bank reported a 6.64% increase in standalone profit after tax, totaling Rs 5,316 crore for the quarter ending in March 2026, compared to Rs 4,985 crore a year earlier. Despite this profit rise, net interest income, a crucial revenue marker, fell by 1.14% to Rs 9,406 crore.

The bank's total income also saw a reduction, shrinking to Rs 31,851.15 crore from Rs 32,752.67 crore in the corresponding period of the previous fiscal year. This financial performance announcement led to its shares closing at Rs 179.65 on the BSE, marking a 7.40% fall.