BoM Q1 Net nearly doubles to Rs 266 cr

Bank reported a profit of Rs 140.46 crore during the same period of the previous fiscal

State-owned Bank of Maharashtra (BoM) today said net profit for the first quarter ended June 30, nearly doubled to Rs 266.33 crore.

The state-run bank had a profit of Rs 140.46 crore during the same period of the previous fiscal.

Total income of the bank increased to Rs 2,974.31 crore from Rs 2,217.30 crore, BoM said in a filing to the BSE.

As of June 30, the bank's portfolio quality improved, with gross non-performing assets at 1.80% of gross advances, compared with 2.24% a year earlier.

Net non-performing assets declined to 0.80% from 0.97%.

The bank's capital adequacy ratio as of June 30 stood at 11.83%.