Bank of Maharashtra Reports Major Profit Surge in June Quarter FY25

Bank of Maharashtra (BoM) announced a 47% increase in net profit for the June quarter FY25, reaching Rs 1,293 crore. The surge is attributed to a reduction in bad loans and a rise in interest income. Total income and asset quality improved, while the capital adequacy ratio slightly declined.

Bank of Maharashtra (BoM) on Monday reported a 47 per cent jump in net profit at Rs 1,293 crore for the June quarter FY25, aided by a decline in bad loans and improvement in interest income.

The Pune-based lender had posted a net profit of Rs 882 crore in the corresponding period last year. Total income for the quarter rose to Rs 6,769 crore, up from Rs 5,417 crore in the same period last year, according to the state-owned bank's regulatory filing.

Interest earned by the bank grew to Rs 5,875 crore compared to Rs 4,789 crore in the June quarter of FY24. The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.85 per cent of gross advances at the end of June quarter FY25, down from 2.28 per cent a year ago. Net NPAs also declined to 0.20 per cent from 0.24 per cent in the same period last year. However, the capital adequacy ratio fell to 17.04 per cent from 18.07 per cent in the same quarter of FY24.

(With inputs from agencies.)