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Bank of Maharashtra Q4 profit more than doubles to Rs 355 crore

The Pune-based lender had posted a net profit of Rs 165.23 crore in the year-ago period.

April 28, 2022 / 03:45 PM IST
 
 
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State-owned Bank of Maharashtra on Thursday reported an over two-fold increase in its consolidated net profit at Rs 355 crore in the quarter ended March, helped by a fall in the bad loan proportions, thus requiring lesser provisioning.

The Pune-based lender had posted a net profit of Rs 165.23 crore in the year-ago period.

Total income of the bank, however, was down at Rs 3,948.48 crore in the January-March quarter of 2021-22, as against Rs 4,334.98 crore in the same quarter of 2020-21, Bank of Maharashtra said in a regulatory filing.

For the full year 2021-22, the bank’s consolidated net profit doubled to Rs 1,151.64 crore, as against Rs 551.41 crore in 2020-21.