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Saturday, November 2, 2013

Bank of Maharashtra Q2 profit declines 72%

Pune-based Bank of Maharashtra posted a net profit of Rs 46.85 crore during the second quarter of the current fiscal against Rs 166 crore in the same quarter of last fiscal, a decline of 72 per cent year on year.

Total income stood at Rs 3,196 crore (Rs 2,434 crore), a growth of 31 per cent year on year.

Wholesale and corporate banking operations accounted for the maximum growth in the income as well as for a loss of Rs 46 crore (gross) impacting the bottom line adversely. In the same quarter of FY 13, this segment had shown profit of Rs 39 crore.

The bank’s gross NPAs rose to Rs 2,450.48 crore from Rs 1,292.45 crore. Net NPA stood at Rs 1,535.33 crore.

Source: thehindubusinessline


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