(From Left to Right) Shri. Asheesh Pandey, Executive Director, Shri. A S Rajeev MD & CEO & Shri. Rohit Rishi Executive Director, Bank of Maharashtra while addressing a press conference via videoconference for Q3 Financial Results for FY2023-24.
Pune: Bank of Maharashtra on January 16 declared an increased net profit to Rs 1,036 crore in Q3 results, on the back of rising net interest income and better asset quality.
Net interest income (NII) rose 24.56% on Y-o-Y basis to Rs 2,466 crore in Q3FY24 against Rs 1,980 crore for Q3FY23. NII climbed 1.39% on a Q-o-Q sequential basis.Net revenue (net interest income plus other income) for Q3FY24 rose 20.05 % from Rs 2,620 crore in the December quarter to Rs 3,146 crore for Q3FY24.
Operating Profit has shown a growth of 27.32 percent on-year to Rs 2,012 crore for the third quarter of the current financial year as against Rs 1,580 crore in a similar period last year. The same has improved by 4.77 percent on-quarter.
Gross non-performing assets (NPA) of the bank declined to 2.04 percent as on December 31, 2023, against 2.94 percent as on December 31, 2022. Net NPA declined to 0.22 percent as on December 31, 2023, as against 0.47 percent as on December 31, 2022.
