Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore

Bank of Maharashtra has released its final quarter year results, ending 31st March 2024. The net profit in terms of the quarter ending surged by 44.95%.

Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore

Based on the quarter ending, the Net Profit increased by 44.95 % to Rs 1,218 crore in Q4FY24 on a Y-o-Y basis as against Rs 840 crore for Q4FY23. The same is increased by 17.59 % on a Q-o-Q sequential basis.

Operating Profit has shown a growth of 19.10 % on a Y-o-Y basis to Rs 2,210 crore for Q4FY24 as against Rs 1,855 crore for Q4FY23. The same has improved by 9.82 % on a Q-o-Q basis

Net Interest Income (NII) grew by 18.17 % on a Y-o-Y basis to Rs 2,584 crore in Q4FY24 as against Rs 2,187 crore for Q4FY23. The same is increased by 4.81 % on a Q-o-Q sequential basis.

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Net Revenues (Net Interest income plus other income) for Q4FY24 improved by 19.85 % from Rs 3,009 crore for Q4FY23 to Rs 3,606 crore for Q4FY24. The same is increased by 14.63 % on a Q-o-Q sequential basis.

Total Deposits increased by 15.66 % on a Y-o-Y basis to Rs 270,747 crore while Gross Advances grew by 16.30 % on a Y-o-Y basis to Rs 203,664 crore. Net Advances grew by 16.95 % on a Y-o-Y basis to Rs 200,240 crore.

 

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The gross NPA of the bank has declined to 1.88 % as of 31.03.2024 against 2.47 % as of 31.03.2023. The same was 2.04 % as of 31.12.2023. Net NPA declined to 0.20 % as of 31.03.2024 against 0.25 % as of 31.03.2023. The same was 0.22 % as of 31.12.2023.

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