 "Bank of Maharashtra")
Bank of Maharashtra's June quarter net loss nearly trebled to Rs 11.19 billion as bad loans spiked, resulting into higher provisioning coverage.
The bank had reported a net loss of Rs 4.122 billion in the April-June period of 2017-18.
Total income during the reported quarter fell to Rs 29.871 billion as against Rs 32.0984 billion in the year-ago period, the bank said in a BSE filing.
The interest income was down 4 per cent to Rs 26.4055 billion from Rs 27.4489 billion in the year-ago period.
The bank's gross non-performing assets (NPAs) worsened to 21.18 per cent of the gross advances by June-end 2018 against 18.59 per cent by June last year.
In value terms, gross bad loans or NPAs were at Rs 178 billion by the end of the quarter as compared to Rs 180.49 billion by June 2017.
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Net NPAs however fell to 12.20 per cent of net advances (Rs 91.95 billion) from 12.48 per cent (Rs 112.59 billion) in year-ago June quarter.
Provisioning for NPAs also increased to Rs 15.1 billion from Rs 11.57 billion in the year-ago period.
Overall provisions and contingencies were Rs 16.32 billion in the June quarter as against Rs 11.51 billion in the year-ago period.
The return on assets further fell to (-) Rs 2.83 for the quarter from (-) Rs 1.03 a year ago.
Total assets of the bank were down at Rs 1510.45 billion as on June 30, 2018 from Rs 1537.39 billion.
Stock of the bank traded 2.45 per cent down at Rs 13.13 on BSE.
