Bank of Maharashtra Q3 profit jumps to Rs 775 cr

New Delhi: State-run Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its standalone profit after tax (PAT) at Rs 775 crore in the quarter that ended in December 2022 due to improved asset quality. The Pune-based bank had posted a net profit of Rs 325 crore in the same quarter a year ago.

Bank's total income increased to Rs 4,770 cr

The bank's total income increased to Rs 4,770 crore in the latest December quarter from Rs 3,893 crore in the year-ago period, said BoM in a regulatory filing.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 2.94 percent, as compared to 4.73 percent at the end of third quarter of previous fiscal.

At the same time, net NPAs eased below one percent to 0.47 percent, as against 1.24 percent in the same period a year ago. The capital adequacy ratio rose to 17.53 percent in the December quarter as against 14.85 percent.

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