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Bank of Maharashtra Q3 results: Net profit more than doubles to Rs 325 cr

Agencies | Updated on: Thursday, January 20, 2022, 03:14 PM IST

The bank's total income surged to Rs 3,893 crore in the latest December quarter from Rs 3,582 crore in the year-ago period. |
The bank's total income surged to Rs 3,893 crore in the latest December quarter from Rs 3,582 crore in the year-ago period. |
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Bank of Maharashtra reported an over two-fold increase in net profit at Rs 325 crore for the third quarter ended December 2021, led by a decline in bad loans.

The bank had posted a net profit of Rs 154 crore in the same quarter a year ago.

The bank's total income surged to Rs 3,893 crore in the latest December quarter from Rs 3,582 crore in the year-ago period, while Net Interest Income (NII) gained 17 percent to Rs 1,527 crore during the quarter under review.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 4.73 percent or Rs 6,104.65 crore in the 2021 December quarter.

While net NPAs eased to 1.24 percent or Rs 1,545 crore as against 2.59 percent or Rs 2,579 crore in the same period a year ago.

The capital adequacy ratio rose to 14.85 percent in the December quarter as against 13.65 percent.

(With inputs from PTI)

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Published on: Thursday, January 20, 2022, 03:14 PM IST