Bank of Maharashtra's Q1 net profit increased 47% to ₹1,293 crore due to growth in net interest and non-interest income.

Bank of Maharashtra reported a 47% increase in its first quarter net profit to ₹1,293 crore due to strong growth in net interest income and non-interest income, and a significant decline in provision for taxes. Net interest income was up 20% year-over-year at ₹2,799 crore, while other income, including fee-based income and treasury income, rose by 42% to ₹894 crore. GNPAs position improved to 1.85% of gross advances, and gross advances increased by 18.99% year-over-year to ₹2,09,031 crore. Total deposits grew by 9.43% year-over-year to stand at ₹2,67,416 crore.

July 15, 2024
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