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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