On Tuesday, July 15, the state-run Bank of Maharashtra Ltd. released its April–June quarter results. The lender's core income, or net interest income, climbed from ₹2,800 crore to ₹3,292 crore, an 18% year-over-year gain.
The period's net profit climbed from ₹1,293 crore to ₹1,593 crore, a 23% rise. Despite lower other income than in the same quarter previous year, net profit increased during the quarter. Sequentially, the period's asset quality stayed constant. Both net and gross non-performing assets (NPA) stayed at 0.18% and 1.74%, respectively, from the March quarter.
Compared to the previous quarter's ₹983.29 crore, the quarter's provisions were ₹867.41 crore. On a sequential basis, slippages over the period have increased. At the conclusion of the June quarter, total slippages were ₹727 crore, up from ₹660 crore during the March quarter.
While deposits increased by 14% from the same quarter last year to ₹3.05 lakh crore, Bank of Maharashtra reported business growth of 14% from the previous year to ₹5.46 lakh crore in its post-earnings statement.
Gross Advances were ₹2.41 lakh crore, increasing 15.34% from the previous year.Net Interest Margins during the June quarter stood at 3.95%, which is nearly the same as 3.97% it reported in the June quarter last year and 4.01% reported during the March quarter.
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