MUMBAI: Pune-based public sector lender Bank of Maharashtra has reported a 23.1% on-year growth in net profit at Rs 1,633 crore for the September quarter boosted by a healthy core income.
The 90-year-old lender said Tuesday that its key net interest income rose 15.71% on-year to Rs 3,248 crore.
The bank, which already has the lowest NPAs among public sector banks, has reported further improvement in asset quality with the gross NPAs declining to 1.72% from 1.84% on-year and from 1.74% as of June 2025. Net NPAs also declined to 0.18% -- the lowest in the industry -- as against 0.20% on-year and 0.18% as of June 30, 2025.
Total income, which is net interest income and other incomes like fees, rose 13.73% to Rs 4,093 crore in the reporting period, which helped the bank to have a better cost to income ratio at 37.10 in the reporting period as against 38.81 in Q2FY25.
Return on assets improved to 1.82% as against 1.74% and 1.80% in Q1FY25, while return on equity stood at 22.58% as against 26.01% -- on both these metrics the bank leads the overall public sector banks.
Total business grew 14.2% on-year to Rs 5,63,909 crore, of which total deposits stood at Rs 3,09,791 crore, up 12.13% on-year and advances at Rs 2,54,118 crore, up 16.83% on-year.
Of the total advances of Rs 2,54,118 crore, RAM (retail, agri & MSME) business grew 16.94% and retail advances grew 37.45%.
Provision coverage ratio stood at 98.34% as against 98.36% on-year and 98.36% as of June 2025.
Basel III capital adequacy ratio improved to 18.13% with the common equity tier 1 (CET1) ratio of 14.05.
