Bank of Maharashtra shares gain 4% as Q2 net profit jumps 23%; NII over 15%
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Shares of Bank of Maharashtra gained as much as 4.3% to their day’s high of Rs 57.40 on the NSE on October 15 after the lender reported a 23% on-year rise in net profit at Rs 1,633 crore during the September quarter, with Net Interest Income (NII) up 15.71% on-year to Rs 3,248 crore. Operating profit saw a growth of 16.91% year-on-year to Rs 2,574 crore for Q2FY26, compared to Rs 2,202 crore for Q2FY25, the company’s investor presentation on October 14 showed. Return on Assets (RoA) improved to 1.82% for Q2FY26 against 1.74% for Q2FY24 and 1.80% for Q1FY25. Return on Equity (RoE) stood at 22.58% for Q2FY26, compared to 26.01% for Q2FY25. Total Business grew by 14.20% year-on-year to Rs 5,63,909 crore. Total Deposits increased by 12.13% year-on-year to Rs 3,09,791 crore. The bank’s asset quality improved year-on-year, with gross NPAs declining to 1.72% from 1.84% and net NPAs easing to 0.18% from 0.20%. Provision Coverage ratio stood at 98...