Bank of Maharashtra Q3 net profit rises 36% to ₹1,407 crore, NII advances 19%

It had reported a post-tax profit of ₹1,035.69 crore in the corresponding period last fiscal.

The lender's total income stood at ₹7,112.66 crore, up 21.5% from ₹5,851.55 crore in the year-ago quarter.

The net interest income (NII) advanced 19% to ₹2,944 crore in the latest October-December quarter compared to ₹2,465 crore in Q3 FY24.

Gross non-performing assets (GNPA) were reported at 1.80% in the three-month period ended December 2024, compared to 1.84% in the previous quarter. Sequentially, net NPA remained unchanged at 0.20%.

The operating profit came in at ₹2,303.39 crore for the quarter under review, up 14.46% YoY from ₹2,012.32 crore a year back.

The bank's provisions for the reporting quarter stood at ₹841 crore, a reduction from ₹943 crore in Q3 FY24. However, it is greater than ₹822 crore reported in the previous quarter.

It should be noted that the percentage of shares held by the Government of India declined to 79.6% in Q3 FY25 compared to 86.46% in the same period last previous fiscal.

During the quarter, the company raised ₹3,500 crore via qualified institutional placement (QIP). The funds generated will augment the Bank's Tier I capital to support growth plans and improve its business.

Bank of Maharashtra share price

Shares of Bank of Maharashtra settled 3% lower at ₹51.15 apiece on the National Stock Exchange (NSE). The market capitalisation stood at ₹39,342.30 crore.

The stock has declined 7% in the past three months and 1.92% year-to-date. However, it has gained 0.47% in the past year.