NEW DELHI: Bank of Maharashtra (BoM) on Tuesday reported a 34%increase in net profit to Rs 1,036 crore in the third quarter ended December 2023 due to improvement in interest income and a decline in bad loans.
The Pune-based lender had reported a net profit of Rs 775 crore in the same quarter a year ago. Its total income increased to Rs 5,851 crore during the quarter against Rs 4,770 crore in the same period last year. BoM managing director AS Rajeev said the net interest income (NII) grew by 24.56% to Rs 2,466 crore against Rs 1,980 crore in the year-ago period. He said operating profit has shown a growth of 27.32% to Rs 2,012 crore from Rs 1,580 crore in Q3 FY23.