BoM Q3 profit more than doubles to Rs 775 cr, lender mulls 5% stake sale

State-owned bank may come out with qualified institutional placement of equity shares in the last quarter of FY23

Bank of Maharashtra’s (BoM’s) net profit rose by 138.76 per cent year-on-year (YoY) to Rs 775.03 crore during the quarter ended December (Q3 of FY23). This was on the back of an improvement in net interest margin (NIM).

The Pune-based public sector lender had posted a net profit of Rs 324.63 crore in Q3 of FY22.

Net profit was higher in Q3 compared to Q2 when the figure stood at Rs 535.06 crore.

The bank’s stock closed 4.6 per cent higher at Rs 33.05 per share on the BSE on Monday. 

BoM is planning a qualified institutional placement (QIP) of