Bank Of Maharashtra Q3 Profit Jumps 34% To Rs 1,036 Crore
Bank of Maharashtra's Q3 profit soared by 34% to reach Rs 1,036 crore, with total income rising to Rs 5,851 crore.
State-owned Bank of Maharashtra on Tuesday posted a 34% rise in its profit at Rs 1,036 crore in the third quarter ended December 2023.
The Pune-based lender had posted a net profit of Rs 775 crore in the same quarter a year ago.
Total income increased to Rs 5,851 crore during the quarter under review against Rs 4,770 crore in the same period last year, BoM said in a regulatory filing.
The bank earned an interest income of Rs 5,171 crore during the quarter compared to Rs 4,129 crore in the same period a year ago.
The bank was able to reduce gross Non-Performing Assets to 2.04% of the gross loans by the end of December 2023 from 2.94% a year ago.
Similarly, net NPAs or bad loans came down to 0.22% from 0.47% at the end of the third quarter of the previous fiscal.
