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State-owned Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its net profit to Rs 535 crore in the September 2022 quarter, helped by a decline in bad loans.
The lender had reported a standalone profit after tax of Rs 264 crore in the same quarter of the previous fiscal.
Total income increased to Rs 4,317 crore during the quarter under review against Rs 4,039 crore in the year-ago period, BoM said in a regulatory filing.
The lender was able to reduce gross non-performing assets (NPAs) to 3.40 per cent of the gross loans at September-end 2022 from 5.56 per cent a year ago.
Likewise, net NPAs or bad loans came down to 0.68 per cent from 1.73 per cent at the end of the second quarter of the previous fiscal.
(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.)
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