Bank of Maharashtra has recorded a net profit of Rs 840 crore in the fourth quarter of fiscal year 2022-23, which is 135 percent higher as against Rs 355.2 crore recorded in the year-ago period, as per the financial results declared by the state-run lender on April 24.
The bank's net interest income (NII) in Q4FY23 came in at Rs 2,187 crore, which is 35.7 percent higher as compared to Rs 1,612 crore reported in the corresponding period of the last fiscal.
The portion of bank's gross non-performing asset (NPA) stood at 2.47 percent as of March 31, 2023, which is lower than 2.94 percent recorded at the end of the third quarter.
Also Read | Bank of Maharashtra share rallies after robust Q4 results
The net NPA has also declined to 0.25 percent, as against 0.47 percent in the preceding quarter.
The bank's provisions in Q4 came in at Rs 945 crore, which is 62 percent higher sequentially as against Rs 582 crore reported in the previous quarter, and 158 percent higher on-year as against Rs 365.4 crore recorded in Q4FY22.
Shortly after the quarterly results were announced, Bank of Maharashtra's shares traded higher at the stock market. At the BSE, it jumped to as high as Rs 30.25 at around 3 pm, which was 8.7 percent higher as against the previous day's close.
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