Bank of Maharashtra has showcased a 46.6 per cent year-on-year (YoY) increase in profit after tax (PAT), reaching Rs 1,293 crore in the April-June quarter of FY 2024-25 (Q1FY25), compared to Rs 882 crore in the same period last year.
The bank’s total business grew by 13.43 per cent YoY, reaching Rs 4.76 trillion in Q1FY25 from Rs 4.20 trillion in Q1FY24. Additionally, the bank’s total deposits increased by 9.43 per cent YoY, amounting to Rs 2.67 trillion compared to Rs 2.44 trillion in the same quarter last year.
For Q1FY25, Bank of Maharashtra reported a net interest income (NII) of Rs 2,799 crore, marking a 20 per cent YoY rise from Rs 2,340 crore in the same quarter last year.
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Asset quality remained strong, with Gross Non-Performing Assets (NPAs) slightly decreasing to 1.85 per cent from 1.88 per cent quarter-on-quarter (QoQ). Gross non-performing assets (NPAs) were Rs 3,873 crore, up from Rs 3,833 crore the previous quarter. Net NPAs remained stable at a low 0.20 percent, with Rs 415 crore reported, matching the previous quarter’s total of Rs 409 crore.
Provisions for bad loans were marginally higher during the June quarter, at Rs 950 crore, compared to Rs 942 crore in the same quarter the previous year.
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