Bank of Maharashtra Q4 Net Profit Rises 23% to ₹1,493 Crore

26 Apr 2025 , 11:51 PM

Bank of Maharashtra announced a 22.6% year-over-year (YoY) growth in net profit during the fourth quarter of FY24 at ₹1,493 crore, from ₹1,218 crore during the corresponding period a year ago.

The Net Interest Income (NII) of the bank grew by 20.6% YoY to ₹3,116.7 crore, from ₹2,584.4 crore for the fourth quarter of FY23. Asset quality also improved during the quarter, as the gross NPA ratio reduced to 1.74% from 1.80% in the last quarter.

The net NPA ratio too came down, decreasing to 0.18% from 0.20% on a sequential basis, evidencing the effective credit risk management of the bank. On a standalone basis, gross NPAs were ₹4,184.5 crore, marginally higher than ₹4,124 crore in the earlier quarter. Net NPAs fell to ₹432 crore in the quarter, from ₹443 crore in the previous quarter.

To reward shareholders, Bank of Maharashtra has proposed a 15% dividend, equivalent to ₹1.50 per equity share, subject to approval at the forthcoming Annual General Meeting (AGM). The bank also made its statements on issue proceeds utilization and filed a security cover certificate, as per regulatory requirements.