Bank of Maharashtra's Shares Surge Amid 47% Profit Jump in June Quarter FY25

Shares of Bank of Maharashtra increased nearly 6% on Monday following the announcement of a 47% rise in net profit for the June quarter of FY25. The bank's improved asset quality and higher interest income contributed to this growth, with net profit reaching Rs 1,293 crore.

Shares of Bank of Maharashtra on Monday rose nearly 6 per cent after the firm reported a 47 per cent jump in net profit for the June quarter of FY25.

The stock rallied 5.67 per cent to settle at Rs 68.75 on the BSE. During the day, it surged 7.11 per cent to Rs 69.69. At the NSE, it climbed 5.56 per cent to Rs 68.70.

The company's market valuation surged by Rs 2,613.03 crore to Rs 48,684.44 crore.

Bank of Maharashtra reported a net profit increase of 47 per cent to Rs 1,293 crore for the June quarter of FY25, aided by a decline in bad loans and an improvement in interest income. The Pune-based lender had posted a net profit of Rs 882 crore in the same period last year.

Total income for the reviewed quarter rose to Rs 6,769 crore from Rs 5,417 crore in the previous year, according to a 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, with gross non-performing assets (NPAs) declining to 1.85 per cent of gross advances at the end of the June quarter of FY25 from 2.28 per cent a year ago. Net NPAs, or bad loans, also declined to 0.20 per cent from 0.24 per cent in the previous year.

(With inputs from agencies.)