Bank of Maharashtra posts net profit of Rs 270 mn after 10 quarters

Bank of Maharashtra (BoM), the Pune-based public sector lender, has turned the corner by posting a net profit of Rs 270 million in the second quarter ending September 2018 (Q2FY19), owing to higher recoveries and control on costs, including interest costs. 

It moved into the black after posting a net loss for 10 consecutive quarters (since March 2016). It had posted a net loss of Rs 11.19 billion in April-June 2018 (Q1FY19). Its net loss for Q2FY18 was Rs 0.23 billion. Its stock closed 19.4 per cent higher at Rs 13.95 per share on the BSE. The bank is under the