Bank of Maharashtra Q1 PBT at Rs 101.13 cr, NII rises 9.14% to Rs 1,088 cr

The lender holds Covid-19 related cumulative provisions of Rs 425 crore, which is more than the norms prescribed by Reserve Bank of India

Public sector lender Bank of Maharashtra posted profit before tax (PBT) of Rs 101.13 in the first quarter ended June 2020 (Q1FY21). It had posted a pre-tax loss of Rs 262.27 crore in quarter ended June 2019 (Q1FY20).

The bank's net profit for the quarter under review rose to Rs 101.02 crore from a net profit of Rs 81.09 crore in Q1FY20.

The bank's managing director and chief executive, A S Rajeev, said the rise in Net Interest Income (NII) and a decline in provisions and contingencies helped the bank improve the net profit in the quarter (Q1FY21).

The share of the Pune-based