Bank Of Maharashtra Profit Doubles To Rs 264 Crore In September Quarter
NDTV
Bank Of Maharashtra Q2 Results: The bank's net profit doubled in the second quarter of the current fiscal, mostly driven by net interest income and better overall business.
Bank of Maharashtra announced its July-September quarter results for the financial year 2021-22 on Thursday, reporting a net profit of Rs 264 crore on a consolidated basis, compared to Rs 130.44 crore in the corresponding period last year, marking a growth of 103 per cent year-on-year. The bank's net profit doubled in the second quarter of the current fiscal, mostly driven by net interest income and better overall business.
The state-run lender's net interest income (NII) -the difference between interest earned and interest expended, grew by 33.84 per cent to Rs 1,500 crore in the September quarter, compared to Rs 1,120 crore in the year-ago period. Net interest income was up 6.66 per cent on a quarter-on-quarter basis.
The bank's total income during the July-September quarter rose to Rs 3,700.44 crore, compared to Rs 3,270.07 crore in the corresponding period last year, according to a regulatory filing by Bank of Maharashtra to the stock exchanges today.
