Bank of Maharashtra shares soar 9 pc on robust net profit

Bank of Maharashtra shares zoomed over 9 per cent today as the company's net profit went up by 98 per cent in the fourth quarter ended March 31.
Reacting to the good set of numbers, shares of the company ended 9.23 per cent higher at Rs 41.40 on the BSE. Intra-day, it had surged 16.49 per cent to Rs 44.15.
At the NSE, it rallied 8.68 per cent to settle at Rs 41.30.
In the process, the company's market valuation rose by Rs 372.58 crore to Rs 4,401.58 crore.
Bank of Maharashtra had yesterday reported a 98 per cent rise in net profit at Rs 112.72 crore for the fourth quarter ended March 31.

The bank had posted a net profit of Rs 58.95 crore in the corresponding quarter of the previous fiscal.

The bank's operating profit during the reporting period was up by 17.38 per cent at Rs 678.40 crore as against Rs 467.18 crore in the corresponding period last year.
Total income in Q4 FY15 was at Rs 3,598.89 crore as against Rs 3,372.48 crore in Q4 FY14.
Meanwhile, the net NPAs of the bank also went up to 4.19 per cent in Q4 FY15 as against 2.03 per cent during the corresponding period a year ago, the company said in a filing to the BSE.

Net profit for the year rose 17 per cent on yearly basis for the fiscal year 2014-15 at Rs 450 crore as against Rs 386 crore in FY14. Operating profit was up at Rs 2,355 crore in FY15 as against Rs 2,006 crore in FY14.