Bank of Maharashtra Q1 Profit Urges 27% to Rs 2,020 Cr

New Delhi: Bank of Maharashtra (BoM) on Friday reported a 27 per cent jump in net profit to Rs 2,020 crore for the first quarter of the current fiscal.

The Pune-based lender had posted a net profit of Rs 1,593 crore in the year-ago period.

Total income in the quarter under review rose to Rs 9,063 crore from Rs 7,879 crore in the same period a year ago, the state-owned lender said in a regulatory filing.

Interest earned by the bank grew to Rs 8,037 crore as compared to Rs 7,054 crore in the June quarter of FY26.

Bank of Maharashtra shares closed higher on Thursday, extending gains for another session as buying interest kept the stock above the ₹84 mark despite profit booking during the afternoon.

The stock opened at ₹82.90 against the previous close of ₹82.01 and moved sharply higher to touch  ₹87.46, its strongest level of the session. Selling pressure emerged after the rally, pulling the stock back toward ₹82, before fresh buying in the final hour helped it recover.

As of 3:45 PM IST on July 10, Bank of Maharashtra share price stood at ₹84.00, up ₹1.99 or 2.43% for the day. The stock traded above its volume-weighted average price (VWAP) of ₹84.31, reflecting sustained participation through the session despite intraday volatility.

The bank’s asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.45 per cent of gross advances at the end of the June quarter FY27 from 1.74 per cent a year ago.

Similarly, net NPAs or bad loans declined to 0.13 per cent as against 0.18 per cent in the year-ago period.

Capital adequacy ratio of the bank declined to 18.64 per cent from 20.06 per cent in the same quarter of FY24.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)