State-owned Bank of Maharashtra has reported one of the strongest earnings prints among public sector lenders this season, with standalone net profit for the second quarter of FY27 rising 41.42 per cent year-on-year to ₹2,310 crore, up from ₹1,633 crore in the September quarter of last year.
The Pune-headquartered lender, led by MD & CEO Nidhu Saxena, also grew profit 14.33 per cent sequentially, underlining steady momentum through the first half of the fiscal year.
Core income and efficiency
Net interest income (NII) rose 21.76 per cent year-on-year to ₹3,954 crore from ₹3,248 crore, and was up 4.89 per cent over the June quarter. Operating profit climbed 30.86 per cent to ₹3,369 crore.
Efficiency improved further. The cost-to-income ratio eased to 33.73 per cent from 37.10 per cent a year ago and 35.04 per cent in Q1 FY27, while return on assets rose to 2.02 per cent from 1.82 per cent, a level that places the bank among the most profitable lenders in the PSU pack.
Balance sheet growth
Total global business expanded 25.16 per cent to ₹7,05,766 crore as of September 30, 2026. Global deposits grew 21.50 per cent to ₹3,76,407 crore, while gross global advances rose 29.61 per cent to ₹3,29,359 crore. Net advances were up 30.16 per cent at ₹3,25,641 crore, reflecting credit growth well ahead of the system.
Asset quality and capital
Asset quality continued to strengthen. Gross NPA fell to 1.25 per cent from 1.72 per cent a year earlier and 1.45 per cent at the end of June, while net NPA declined to 0.12 per cent from 0.18 per cent a year ago.
The bank’s Basel III capital adequacy ratio improved to 18.51 per cent, with a Common Equity Tier 1 ratio of 15.61 per cent, giving it headroom to keep funding loan growth.
According to the exchange filing, the bank reversed ₹250 crore of COVID-19 related contingency provisions during the quarter and continues to hold ₹510 crore of such provisions, an item the joint auditors flagged as an emphasis of matter.
First-half performance
For the half year ended September 30, 2026, net profit rose 34.22 per cent to ₹4,330 crore, operating profit increased 26.08 per cent to ₹6,486 crore and NII grew 18.12 per cent to ₹7,724 crore.
Bank of Maharashtra shares, which traded flat to lower for much of Monday’s session, recovered after the announcement to close 1.06 per cent higher at ₹76.10 on the NSE.
