Union Bank of India announced a rise of 36.01 per cent in its net profit for the first quarter ended on June, 30, 2010. Reported net profit of the public sector lender remained at Rs. 601.42 crore for the quarter.

The bank had reported a net profit of Rs. 442.19 crore for the same quarter in the previous financial year. Total income of the bank too surged 11.25 per cent to Rs. 4,120.66 crore from Rs. 3704 crore in the year-ago period.

In a communiqué filed with the Bombay Stock Exchange, the bank also revealed that its revenue from the retail banking operations have increased 13.22 per cent on a year-on-year basis to Rs. 1,315.36 crore as compared to Rs. 1,161.75 crore in the corresponding quarter of the previous fiscal.

However, on a downside, the bank has witnessed some serious problem in its asset quality as its gross non-performing assets have swollen 2.19 per cent during the quarter.

Last year for the same period it was at 1.95 per cent. Net NPAs of the bank too have gone up to 0.94 per cent from 0.71 per cent a year ago.