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Bank of Maharashtra reports 25% jump in Q1 profit on higher interest income

The lender had reported a profit after tax of Rs 81 crore in the year-ago same quarter and Rs 58 crore in the quarter ended March 31, 2020

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Press Trust of India Mumbai

2 min read Last Updated : Jul 23 2020 | 8:58 PM IST

State-owned Bank of Maharashtra on Thursday reported 24.69 per cent jump in net profit at Rs 101 crore for June quarter 2020-21 helped by healthy interest income and lower operating cost.

The lender had reported a profit after tax of Rs 81 crore in the year-ago same quarter and Rs 58 crore in the quarter ended March 31, 2020.

The profit in the quarter was on account of growth in net interest income (NII) and reduction in operating cost, Managing Director and CEO A S Rajeev told reporters.

NII increased to Rs 1,088 crore during the quarter from Rs 997 crore in the

Topics : Coronavirus Lockdown Bank of Maharashtra Q1 results Indian Banks Indian banking sector COVID-19 Indian Banks Association

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