State-owned Bank of Maharashtra today reported a jump of 55.6 percent in its net profit at Rs 89.06 crore for the third quarter ended December 2015.
The Pune-headquartered public sector lender had made a profit of Rs 57.24 crore in the October-December quarter of financial year 2014-15.
Total income of the bank increased to Rs 3,475.98 crore during the third quarter of current fiscal, showing a rise of 3.2 percent from Rs 3,366.85 crore in year-ago period, it said in a BSE filing.
The bank's gross non-performing assets (NPAs) or bad loans soared further to 7.97 percent of the gross advances as of December 2015, up from 6.65 percent during the same period of previous fiscal. Net NPAs too rose to 5.52 percent of the net advances for the quarter under review, from 4.71 percent a year ago.
Bank of Maharashtra kept aside for provisioning and contingencies a sum of Rs 345.01 crore during the quarter as against Rs 580.14 crore reserved in the year ago period.
Also, there were write-off to the tune of Rs 225.38 crore during the quarter ended December as the bank re-computed the provision of restructured advances in accordance with the RBI's guidelines on asset quality review in July 2015. Shares of the bank were trading 8.53 percent up at Rs 31.80 apiece during pre-close session on BSE.
No comments:
Post a Comment