State-run Bank of Maharashtra Ltd. on Monday reported a two-fold jump in its standalone profit after tax at Rs 775 crore in the quarter ended Dec. 2022 due improved asset quality.
The Pune-based bank had posted a net profit of Rs 325 crore in the same quarter a year ago.
The bank's total income increased to Rs 4,770 crore in the latest December quarter from Rs 3,893 crore in the year-ago period, Bank of Maharashtra said in a regulatory filing.
On the asset quality front, the bank recorded an improvement with gross NPAs declining to 2.94%, as compared to 4.73% at the end of third quarter of previous fiscal.
At the same time, net NPAs eased below 1% to 0.47%, as against 1.24% in the same period a year ago.
The capital adequacy ratio rose to 17.53% in the December quarter as against 14.85%.
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