Bank of Maharashtra Q3 net loss at Rs 182.51 cr

State-owned Bank of Maharashtra today posted a net loss of Rs 182.51 crore for the third quarter ended December 31, 2016, on account of higher provisioning for bad loans.
The Pune-headquartered public sector lender had reported a net profit of Rs 89.06 crore in the October-December quarter of financial year 2015-16.
Total income of the bank stood at Rs 3,473.77 crore during the third quarter, down 0.06 per cent, from Rs 3,475.98 crore in year-ago period, it said in a BSE filing.
Its gross non-performing assets (NPAs) or bad loans soared further to 15.08 per cent of the gross advances as of December 2016, up from 7.97 per cent during the same period a year ago.

Net NPAs too rose to 10.67 per cent of the net advances for the quarter under review from 5.52 per cent a year ago.
Bank of Maharashtra kept aside a sum of Rs 532.17 crore for provisioning of bad loans during the quarter, an over two-fold rise, as against Rs 244.91 crore reserved a earlier.
Shares of the bank closed 2.46 per cent up at Rs 33.30 apiece on BSE.