Bank of Maharashtra reported a 14% increase in net profit at ₹154 crores in the third quarter of the current fiscal, compared with a loss of Rs 3,764 crore.
This came on the back of a healthy increase in non-interest income and reduced loan-loss provision burden. Net interest income increased by 10 percent to ₹1,306 crores (₹1,186 crores in the year-ago period).
Total non-interest income, including fee-based income, trading income, and other income, was up 29 percent to ₹570 crores (₹442 crores).
Gross non-performing assets (NPAs) declined to 7.69 percent of gross advances as of December-end 2020 vis-a-vis 8.81 percent as of September-end 2020.
In absolute terms, GNPAs declined by₹1,033 crores in the reporting quarter. Loan-loss provisions came down 51 percent year-on-year to ₹386 crores (₹794 crores in the year ago quarter).
