 "Bank of Maharashtra Q3 PAT jumps two-fold to Rs 775 cr due to asset quality")
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 ended December 2022 due improved asset quality.
The Pune-based bank had posted a net profit of Rs 325 crore in the same quarter a year ago.
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, BoM said in a regulatory filing.
On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 2.94 per cent, as compared to 4.73 per cent at the end of third quarter of previous fiscal.
At the same time, net NPAs eased below 1 per cent to 0.47 per cent, as against 1.24 per cent in the same period a year ago.
The capital adequacy ratio rose to 17.53 per cent in the December quarter as against 14.85 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app