Pune: Bank of Maharashtra, the state lender on Tuesday 15th October announced their Q2 results with the profit zoomed at 44.28 percent and the consolidated net profit at Rs 1,327.08 crore in the second quarter of FY25, compared to Rs 919.75 crore in the year-ago period. Net revenues (net interest income plus other income) for Q2FY24 improved by 16.10% to Rs 3,599 crore for Q2FY24 as against Rs 3,100 crore for Q2FY23.
Shri Asheesh Pandey, Executive Director, Shri Nidhu Saxena, MD & CEO and Shri Rohit Rishi, Executive Director, Bank of Maharashtra.
The bank’s net profit stood at Rs 1,293.68 crore in the first quarter of the current financial year. The bank posted a high return on assets to the tune of 1.74% for Q2FY24 against 1.37% for Q2FY23 and 1.72% for Q1FY24.
The bank’s net interest income reported a 15 percent jump y-o-y at Rs Rs 2,806.8 crore over Rs 2,432 crore posted in the same period of the previous financial year. Operating Profit has shown a growth of 18.83% to Rs 4496 croreon Y-o-Y basis against Rs 3,784 crore for thehalf year ended 30.09.2023.
The bank’s net interest income reported a 15 percent jump y-o-y at Rs Rs 2,806.8 crore over Rs 2,432 crore posted in the same period of the previous financial year.
The asset quality of the bank remained unchanged sequentially as the gross non-performing asset (NPA) stood at 1.84 percent in the reported quarter compared to 1.85 percent in the last quarter.
The net NPA was at 0.2 percent in the September quarter, unchanged from the June quarter, the filing showed. In the gross NPA front, there’s a decline to 1.84% as on 30.09.2024 against2.19% as on 30.09.2023. The same was 1.85% as on 30.06.2024. The provision coverage ratio stood at 98.31% as on 30.09.2024as against 98.40%as on 30.09.2023. The same was 98.36 % as on 30.06.2024.
Overall the bank performed a stupendous growth.
