At the end of the quarter, Bank of Maharashtra's provisions stood at ₹840 crore from ₹617 crore in the March quarter, and nearly the same as ₹867 crore during the same period last year.
By Gareema Bangad
Bank of Maharashtra reported its results for the June quarter on Friday, July 10.
Net interest income (NII), or core income, rose 14.5% year-on-year to ₹3,770 crore from ₹3,292 crore in the corresponding quarter last year.
Net profit increased 26.8% to ₹2,020 crore, compared with ₹1,593 crore a year ago.
On the asset quality front, the bank's gross non-performing asset (GNPA) ratio stood at 1.45%, the same as the 1.45% it reported in the March quarter. The net non-performing asset (NNPA) ratio also stood at 0.13%, the same as reported in the March quarter by the state-run lender.
Fresh slippages during the quarter came in at ₹888 crore, compared with ₹727 crore in Q1FY26 and ₹839 crore in the March quarter. Net interest margin (NIM) narrowed to 3.79% from 3.91% in the preceding quarter and 3.95% a year earlier.
Ahead of the earnings announcement, the state-run lender had reported a 19% year-on-year growth in total business to ₹6.51 lakh crore in its provisional business update.
Total deposits increased 13% year-on-year to ₹3.44 lakh crore, while global advances rose 27% to ₹3.06 lakh crore.
Within the loan book, Retail, Agriculture and MSME (RAM) advances grew 25% year-on-year to ₹1.87 lakh crore, while domestic corporate advances increased 21% to ₹1.11 lakh crore.
The bank's CASA ratio stood at 49% as of June 30, compared with 50% a year earlier.
At the end of the quarter, Bank of Maharashtra's provisions stood at ₹840 crore from ₹617 crore in the March quarter, and nearly the same as ₹867 crore during the same period last year.
Shares of Bank of Maharashtra were trading 3.4% higher on Friday after the results announcement at ₹84.9. The stock has cooled off from the highs of the day and is trading at ₹83, as of 2.34 pm, up 1.21%.
Shares of Bank of Maharashtra and other fellow PSU lenders had surged earlier in the day after Indian Bank's results, which had taken the stock higher by 10%.