Bank of Maharashtra rose 1.48% to Rs 41.20 at 11:45 IST on BSE after net profit rose 261.1% to Rs 57.24 crore in Q3 December 2014 over Q3 December 2013.
The Q3 result was announced after market hours on Friday, 13 February 2015.
Meanwhile, the S&P BSE Sensex was up 110.67 points or 0.38% at 29,205.60.
On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 58,536 shares in the past one quarter.
The stock hit a high of Rs 41.85 and a low of Rs 40.55 so far during the day. The stock had hit a 52-week high of Rs 55.15 on 9 June 2014. The stock had hit a 52-week low of Rs 29.10 on 28 February 2014.
Bank of Maharashtra's (BoM) net profit in Q3 December 2014 was boosted by tax reversal of Rs 18.11 crore. There was a tax outgo of Rs 1.38 crore in Q3 December 2013.
The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 6.65% as on 31 December 2014, compared with 4.83% as on 30 September 2014 and 4.01% as on 31 December 2013. The ratio of net NPAs to net advances stood at 4.71% as on 31 December 2014 as against 3.29% as on 30 September 2014 and 2.56% as on 31 December 2013.
BoM's provisions and contingencies rose 42.3% to Rs 580.14 crore in Q3 December 2014 over Q3 December 2013. The NPA provision coverage ratio stood at 43.32% based on gross NPA as of 31 December 2014 as against 56.15% as of 31 March 2014.
The bank's Capital Adequacy Ratio (CAR) as per Basel III stood at 11.31% as on 31 December 2014 compared with 11.65% as on 30 September 2014 and 11.83% as on 31 December 2013.
The Government of India holds 79.80% stake in Bank of Maharashtra (as per the shareholding pattern as on 31 December 2014).
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