Bank of Maharashtra Q4 net profit down 77%

Bank of Maharashtra has posted a net profit of ₹56.95 crore for the quarter ending March 31, 2014 versus ₹258.99 crore in the same period of 2013, representing a decline of nearly 77 per cent.

Total income in the quarters under review grew by 6.6 per cent, at ₹3,372 crore in Q4 of FY14 versus ₹3,164 crore.

Dividend payout The Board has recommended that the 10 per cent interim dividend declared and already paid, be considered the final dividend for the year. For the 2014 fiscal, BoM’s net profit stood at ₹385.87 crore against ₹759.52 during FY13, translating into a decline of 49 per cent.

Total income for the year was ₹12,851 crore versus ₹10,525 crore, translating into a rise of 22 per cent year on year.

The bank’s gross non-performing assets have increased this year compared to FY13, at ₹2,860 crore (3.16 per cent) and ₹1,138 (1.49 per cent) crore, respectively.

Total business stood at ₹207,172 crore versus ₹170,734 crore registering a growth of 21.34 per cent. On the BSE, the share gained 2.65 per cent to close at ₹38.80.