The bank made extra provisioning for discoms and Food Corporation of India, which impacted Q4 earnings figures, says Sushil Muhnot, CMD of Bank of Maharashtra.
The bank's gross non-performing assets (NPAs) rose to 5.4 percent at Rs 7986.34 crore versus Rs 7574.86 crore on a quarter-on-quarter basis.
â€œSlippages in this quarter have been Rs 1,300 crore. However the most difficult part is over,â€ Sushil Muhnot CMD, Bank Of Maharashtra said in an interview with CNBC-TV18.
Bank of Maharashtra states that higher provisions and a rise in depreciation because of that, can be blamed for the reduced profits in the current quarter.
Angel Broking expect the Sensex as well as their coverage companies to report a muted revenue performance. The research firm expects Sensex companies to report a 2.4% yoy growth in revenues. For their coverage universe, they expect growth in revenues to come in at 4.1% yoy.
Angel Broking has come with its March`13 quarterly earning estimates for banking sector. The research firm expects private banks to report healthy earnings growth of 23.0 percent yoy, however, the PSU banks with expected earnings decline of 13.1 percent yoy, would drag the overall earnings performance (de-growth of 3.2 percent yoy).
Bank of Maharashtra, a public sector lender announced its third quarter results today. Its net profit rose by 43 percent year-on-year to Rs 194 crore, led by decline in provisions.
Angel Broking has come with its December`12 quarterly earning estimates for banking sector. The research firm continues to prefer private banks, given their stronger capital adequacy and growth prospects as well as cyclically better asset quality profile, with Yes Bank, Axis Bank and ICICI Bank being top picks.
Angel Broking has come with its September`12 quarterly earning estimates for banking sector. According to the research firm banking stocks remained under stress on increased asset quality concerns.
Angel Broking has come out with its June quarterly earning estimates for banking sector. The research firm expects margins to come under pressure in 1HFY2013.
Angel Broking has come with its March quarterly earning estimates for banking sector.
KRChoksey has come with its December quarterly earning estimates for banking sector. According to the research firm, during Q3FY12, private sector banks continue to show healthy operating performance with earnings expectation of 21.3% y-o-y and 11.8% q-o-q.
In an interview to CNBC-TV18, Vaibhav Agrawal of Angel Broking says, the banking space would continue to see asset quality pressure in the Q3 and in the coming quarters that would accelerate.
Angel Broking has come with its quarterly earning estimates for banking sector.
Angel Broking has come out with its report on banking & financial space. The research firm prefers Axis Bank and ICICI Bank from a valuation perspective.
Anup Shankar Bhattacharya, chairman and managing director of Bank of Maharashtra said, the bank's business model has helped them to achieve robust net interest margin (NIM) of 3.18% in this quarter. He is hopeful of maintaining the same in the near future.
While net profit expanded annually by 3% for Bank of Maharashtra, net interest margin was seen growing at a snail’s pace.
S Bhatacharya the CMD of Bank of Maharashtra, in an interview on CNBC-TV18 spoke about the company’s fourth quarter results and what the road ahead looked like for the company going forward.