Bank of Maharashtra Q2 loss narrows to Rs 23 cr

Bank of Maharashtra today reported narrowing of its loss to Rs 23.24 crore for the second quarter ended September 30 even as bad loans increased.
The state-owned lender had posted a loss of Rs 337.15 crore in the same period last fiscal.
However, total income of the bank rose to Rs 3,303.62 crore during the quarter, as against Rs 3,297.31 crore in the year-ago period, Bank of Maharashtra said in a filing to stock exchanges.
During the quarter, gross non-performing assets (NPAs) rose to 15.54 per cent as against 14.08 per cent in the year- ago period.
Net NPAs too moved up to 12.68 per cent from 9.94 per cent earlier.

As a result, provisions for bad loans increased to Rs 835.12 crore, from Rs 656.18 crore in the previous fiscal.