Bank of Maharashtra’s December quarter profit doubles to Rs 775 crore
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The Pune-based bank had a net profit of Rs 325 crore in the December quarter of the last financial year 2021-22. The total income of the bank also increased to Rs 4,770 crore during the period under review.
New Delhi. The standalone net profit of Bank of Maharashtra (BoM) doubled to Rs 775 crore in the October-December quarter of the current financial year 2022-23. Giving this information in a notification sent to the stock markets on Monday, the bank said that its profit has increased due to improvement in asset quality. The Pune-based bank had a net profit of Rs 325 crore in the December quarter of the last financial year 2021-22. The total income of the bank also increased to Rs 4,770 crore during the period under review.
It was Rs 3,893 crore in the same period a year ago. On the asset quality front, the bank’s gross non-performing assets (NPAs) declined to 2.94 per cent at the end of the last quarter. This figure stood at 4.73 per cent at the end of the corresponding quarter of the previous financial year. Net NPAs came down to 0.47 per cent during this period, from 1.24 per cent in the same period a year ago.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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