Bank of Maharashtra Q2 Net more than trebles to Rs 162 crore

Bank of Maharashtra's net profit in the second quarter ended September more than trebled to Rs 162.91 crore on rise in other income and drop in bad loans provisioning.
Pune-based state lender's net profit in the corresponding July-September quarter of the previous fiscal stood at Rs 46.85 crore.
Total income in Q2-FY15 rose to Rs 3,419.56 crore from Rs 3,196.56 crore earned in the same quarter of FY14, the bank said in filing to the BSE.
The bank's income from other sources rose to Rs 222.04 crore during the quarter, from Rs 183.07 crore in the year ago period. Income from wholesale and corporate banking operations increased to Rs 1,635 crore from Rs 1,567.56 crore a year ago.

Also, the provisions made towards bad assets were trimmed to Rs 293.41 crore in the second quarter of current fiscal, from Rs 323.23 crore year ago.
On the asset front, bank's gross non-performing assets (NPAs) or bad loans were 4.83 per cent of the total advances as of September 2014, from 2.77 per cent a year ago.
Net NPAs stood at 3.29 per cent Q2-FY15, up from 1.76 per cent in Q2-FY14.
Bank of Maharashtra shares closed at Rs 44.60 per scrip on the BSE today, up 0.22 per cent from their previous close.