Bank of Maharashtra Q4 profit jumps two-fold to Rs 113cr

Bank of Maharashtra today reported almost two-fold jump in net profit at Rs 112.72 crore during the fourth quarter of 2014-15 fiscal on higher income from treasury, corporate and wholesale banking.
The bank had posted a net profit of Rs 56.95 crore in the same quarter of last year, it said in the BSE filing.
Total income rose to Rs 3,598.89 crore during the fourth quarter of the 2014-15 fiscal from Rs 3,372.48 crore in the year-ago period.
The bank's asset quality continued deteriorating with gross non-performing assets (NPAs) or bad loans rising to 6.33 per cent of gross advances during the last quarter of 2014-15 fiscal, as against 3.16 per cent a year ago.

Net NPAs also doubled to 4.19 per cent from 2.03 per cent, while the bank's provisioning rose to Rs 431.91 crore as against Rs 257.35 crore in the said period.
For the 2014-15 fiscal, the bank reported a net profit of Rs 450.69 crore as against Rs 385.97 crore in the previous year.

Total income rose to Rs 13,671.42 crore from Rs 12,850.85 crore in the said period.
The bank made a provision of Rs 312.20 crore toward wage revision as on March 31, 2015.
The bank's board has recommended a dividend of Rs 0.80 per share for the 2014-15 fiscal.

The scrip ended 1.74 per cent up at Rs 37.90 on BSE.