Bank of Maharashtra reported a 43 per cent jump in net profit in the December quarter at Rs 194 crore on the back of lower provisioning and robust loan growth.
The Pune-based public sector lender had posted a net profit of Rs 136 crore in the year-ago period.
Net interest income (difference between interest earned and expended) increased by 23 per cent to Rs 792 crore compared with Rs 645 crore in the year-ago period.
Provisions in the third quarter declined by 31 per cent to Rs 144 crore (from Rs 210 crore in the year-ago period).
Total advances rose by 49 per cent year-on-year to Rs 74,071 crore, while deposits stood at Rs 99,276.5 crore, up 42 per cent as on December 31. Net non-performing assets to total advances increased to 0.66 per cent from 0.54 per cent in the year-ago period.
Capital adequacy ratio stood at 10.70 per cent in the quarter against 11.75 per cent in the same quarter last fiscal year.
At the day’s close, the shares of the bank closed at Rs 59.35 a share, up 0.34 per cent from its previous close on the Bombay Stock Exchange.