Bank of Maharashtra Q2 FY25 results, total Business grew by 16.90% to Rs 493,793 crore

State-owned Bank of Maharashtra has announced the financial results of the FY24-25. The Bank’s Net Profit increased by 44.25% to Rs 1,327 crore in Q2FY24 on a Y-o-Y basis as against Rs 920 crore for Q2FY23.

Operating Profit has shown a growth of 14.66% on a Y-o-Y basis to Rs 2,202 crore for Q2FY24 as against Rs 1,920 crore for Q2FY23. Net Interest Income (NII) grew by 15.41% on a Y-o-Y basis to Rs 2,807 crore in Q2FY24 as against Rs 2,432 crore for Q2FY23, in terms of Q2FY25.

Moreover, Cost to Income Ratio stood at 38.81% for Q2FY24 as against 38.04% for Q2FY23. The same was 37.87% for the quarter ended 30.06.2024.

In terms of H1FY25 ,Net Profit is increased by Rs 818 crore to Rs 2620 crore on Y-o-Y basis against Rs 1,802 crore for the half year ended 30.09.2023. Total Basel III Capital adequacy ratio improved to 17.26% with Common Equity Tier 1(CET1) ratio of 11.97% as of 30th September 2024.

With reference to asset quality, Gross NPA is declined to 1.84% as on 30.09.2024 against 2.19% as on 30.09.2023. The same was 1.85 % as on 30.06.2024. Net NPA declined to 0.20% as on 30.09.2024 against 0.23% as on 30.09.2023. The same was 0.20% as on 30.06.2024. Provision Coverage ratio stood at 98.31% as on 30.09.2024 as against 98.40% as on 30.09.2023. The same was 98.36 % as on 30.06.2024.