Comments
Pune-based Bank of Maharashtra has seen its net profit plunge by more than half to Rs 72 crore during Q2 16 in comparison to Rs 162.91 crore in the same period of FY 15.
The Bank’s income from operations stood marginally higher at Rs 3,504 crore versus Rs 3,419 crore respectively in the two quarters being compared, a growth of approximately 2.5 per cent.
Non-performing assets
On the NPA count, BoM’s net NPAs grew by nearly 84% to Rs 7,986 crore (7.98%) against Rs 4,351 crore (4.83%). Net NPAs stood at Rs 5,442 crore (5.59%) and Rs 2,901 crore (3.29%) respectively, a rise of 87.5% on numbers.
Annualized return on assets dropped to 0.19% compared to 0.48% in the September quarter of 2015.
A filing to the BSE indicated that the retail banking operations took the biggest hit notching a loss before tax of 0.54 crore against a profit of Rs 106.87 crore in the same quarter of 2015.
Wholesale banking operations also stood affected posting a profit of Rs 3.59 crore versus a profit of Rs 136.11 crore in Q2 15.
Profit (before tax) from treasury operations however saw more than a four-fold growth to Rs 186.80 crore versus Rs 40.72 crore during the same period of last year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.