Bank of Maharashtra Q2 profit up 13% to Rs 130 cr on higher interest income

Net interest margin stood at 2.62 per cent for the quarter as against 2.77 per cent in the year-ago quarter.

Bank of Maharashtra on Monday reported 13.44 per cent growth in standalone net profit at Rs 130 crore for September quarter, helped by lower provisioning and higher interest income. The bank logged a profit after tax of Rs 115 crore in the second quarter of 2019-20.

On a consolidated basis, its profit stood at Rs 130.44 crore, compared to Rs 115.15 crore in the year-ago period.

Profit increase was mainly due to the net interest income (NII), which grew by around 5 per cent. There was considerable reduction in operating expenses by around Rs 75 crore. Provisions have also come