Bank of Maharashtra's operating profit increases 56% to Rs 1,110 crore in Q1 FY21

by Psu Connect
Date: 22-07-21

Bank of Maharashtra's Net Profit up by 106% to Rs 208 crore in Q1 of FY22 on yoy basis against Rs101cr for Q1 FY21

Bank of Maharashtra's operating profit increases 56% to Rs 1,110 crore in Q1 FY21

New Delhi: Bank of Maharashtra has released its financial results for the quarter ended on June 30, 2021. Net Profit up by 106% to Rs 208 crore in Q1 of FY22 on yoy basis against Rs101cr for Q1 FY21. The same is up by 26 % on a qoq sequential basis. Operating Profit has shown a growth of 56% on yoy basis to Rs1110cr for Q1FY22 as against Rs710cr for Q1FY21. Net Interest Income (NII) grew by 29% on a yoy basis to Rs1406cr in Q1FY22 as against Rs1088cr for Q1FY21. The same is up by 2 % on a qoq sequential basis.

Net Revenues (Net Interest income plus other income) for Q1FY22 improved by 44% from Rs1457cr for Q1FY21 to Rs 2,097 core for Q1 FY22. It was Rs 2618 crore for the quarter ended 31.03.2021. Fee based income increased by 68 % on yoy basis to Rs 245 crore for Q1 FY22.

Non-Interest Income up by 87% on yoy basis to Rs 691 crore in Q1 FY22. Cost to Income Ratio improved to 47.05 percent for Q1 FY22 as against 51.25 percent for Q1 FY21. The same was 41.20 percent for the quarter ended 31.03.2021. Return on Assets (ROA) improved to 0.41 percent for Q1 FY22 against 0.22 percent for Q1 FY21 and 0.35 percent for Q4 FY21. Return on Equity (ROE) also improved to 9.91 percent for Q1 FY22 against 5.70 percent for Q1 FY21 and 8.24 percent for Q4 FY21.