Bank of Maharashtra Reports 41.5% Surge in Q2 Net Profit
The Bank of Maharashtra has announced a significant increase in its net profit for Q2 FY27, driven by strong interest income and improved asset quality.
Net profit rose to Rs 2,310 crore, up 41.5% from last year.
Net interest income increased by 21.8% to Rs 3,954 crore.
Gross non-performing assets decreased to 1.25% from 1.45%.
The Bank of Maharashtra has reported a remarkable 41.5% year-on-year increase in its net profit, reaching Rs 2,310 crore for the second quarter of FY27. This growth is attributed to robust interest income, enhanced operating profit, and improved asset quality. In the same quarter last year, the bank's net profit was recorded at Rs 1,633 crore.
The bank's net interest income (NII), which represents the difference between the interest earned and the interest paid, saw a substantial rise of 21.8%, climbing to Rs 3,954 crore from Rs 3,248 crore. This increase reflects the ongoing expansion of the bank's core lending operations. Additionally, the operating profit surged by 30.9% year-on-year, amounting to Rs 3,369 crore, compared to Rs 2,574 crore in Q2 FY26.
Provisions for the quarter also showed a positive trend, declining by 13.5% to Rs 654 crore from Rs 756 crore a year earlier. This reduction in provisions, along with a 22.1% decrease from Rs 840 crore in the previous quarter, has further bolstered the bank's profitability. Overall, the results indicate a strong performance across various financial metrics, including lending, deposits, and profitability.
The bank's total global business experienced a significant expansion of 25.16% year-on-year, reaching Rs 7.06 lakh crore as of September 30, 2026. Total global deposits rose by 21.5% to Rs 3.76 lakh crore, while gross global advances increased by 29.61% to Rs 3.29 lakh crore. Furthermore, asset quality improved, with gross non-performing assets (NPAs) declining to 1.25% from 1.45% in the previous quarter, and net NPAs easing to 0.12% from 0.13%. The return on assets (ROA) improved to 2.02%, while the return on equity (ROE) reached 26.98%.
In the stock market, shares of Bank of Maharashtra saw a gain of 1.06%, closing at Rs 76.12, which is an increase of Rs 0.80 from the previous close of Rs 75.32. The stock traded within a range of Rs 72.77 to Rs 76.12 during the trading session. Looking ahead, the bank aims to sustain this growth trajectory while continuing to enhance its asset quality and profitability.
