Bank of Maharashtra reports a big increase in Net Profit of Rs 840 cr in Q4 FY23

Bank of Maharashtra reports a big increase in Net Profit of Rs 840 cr in Q4 FY23

New Delhi: Bank of Maharashtra, an Indian public sector bank reported a big increase in its final quarter of the financial year 2022-23. The bank posted a net profit of Rs 840 crore, 136.48 % in Q4 FY23, on a Y-o-Y basis as against Rs 355 crore for Q4 FY22. The same is increased by 8.39 % on a Q-o-Q sequential basis. Operating Profit has grown 57.36 % on a Y-o-Y basis to Rs 1,855 crore for Q4FY23 as against Rs 1,179 crore for Q4FY22. The same has improved by 17.40 % on a Q-o-Q basis.

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The bank's Net Interest Income (NII) grew by 35.66 % on a Y-o-Y basis to Rs 2,187 crore in Q4 FY23 as against Rs 1,612 crore for Q4 FY22. The same is increased by 10.47 % on a Q-o-Q sequential basis. Net Revenues for Q4 FY23 improved by 40.98 % from Rs 2,134 crore for Q4 FY22 to Rs 3,009 crore for Q4 FY23.

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Profitability (Year Ended Mar 31st, 2023)

Net Profit increased by 125.96 % to Rs 2,602 in on Y-o-Y basis against Rs 1,152 crore for the year ended 31.03.2022.

Operating Profit has shown a growth of 25.81 % to Rs 6,099 crore on Y-o-Y basis against Rs 4,848 crore for the year ended 31.03.2022.

Net Interest Income (NII) grew by 28.07 % on Y-o-Y basis to Rs 7,741 crore for the year ended 31.03.2023 as against Rs 6,044 crore for the year ended 31.03.2022.

Fee based income increased by 6.14 % on Y-o-Y basis to Rs 1,309 crore for the year ended 31.03.2023.

Cost to Income Ratio improved to 39.14 % for the year ended 31.03.2023 as against 44.26% for the year ended 31.03.2022.

Return on Assets (ROA) improved to 1.10 % for the year ended 31.03.2023 against 0.55% for the year ended 31.03.2022.

Return on Equity (ROE) also improved to 20.38 % for the year ended 31.03.2023 against 11.45% for the year ended 31.03.2022.

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