Bank of Maharashtra jumped 6.54% to Rs 14.49 after the bank announced Q3 earnings during trading hours today, 20 January 2020.
On a standalone basis, Bank of Maharashtra's reported a net profit of Rs 135.26 crore in Q3 December 2019 compared with net loss of Rs 3,764.26 crore in Q3 December 2018. Total income soared 13.16% to Rs 3,458.59 crore in Q3 December 2019 over Q3 December 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 15,745.54 crore as on 31 December 2019 as against Rs 15,408.41 crore as on 30 September 2019 and Rs 15,509.36 crore as on 31 December 2018.
The ratio of gross NPAs to gross advances stood at 16.77% as on 31 December 2019 as against 16.86% as on 30 September 2019 and 17.31% as on 31 December 2018.
The ratio of net NPAs to net advances stood at 5.46% as on 31 December 2019 as against 5.48% as on 30 September 2019 and 5.91% as on 31 December 2018.
The bank's provisions and contingencies fell 79.25% to Rs 917.42 crore in Q3 December 2019 over Q3 December 2018. Of this, provisions for NPAs fell 82.50% to Rs 794.06 crore in Q3 December 2019 over Q3 December 2018.
Non-performing loans Provision coverage ratio (PCR) of the bank was at 82.63% as on 31 December 2019. The figure was 82.71% in 30 September 2019.
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The Government of India holds 92.49% stake in Bank of Maharashtra (as on 31 December 2019).
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