Bank of Maharashtra posts profit

For Q4FY19, the bank reported profit after tax (PAT) of Rs. 72.3 crore as against a loss of Rs. 114 crore in Q4FY18. The bank's Net NPAs declined by around 2 per cent in the quarter.

Net interest income (NII) of the bank for the quarter was Rs. 999.9 crore as against Rs. 880.8 crore in Q4FY18, which is an increase of 13.5 per cent.

Bank of Maharashtra reported improved asset quality. The bank's Gross NPAs for the March quarter were at Rs. 15,324.5 crore as against Rs. 15,509.4 crore, down by 1.2 per cent. While Net NPAs were at Rs. 4,559.3 as against Rs. 4,646.9, down by 1.9 per cent. Percentage of Gross NPAs stood at 16.4 per cent as against 17.31 per cent QoQ, better by 91 basis points (bps), Net NPAs were at 5.52 per cent as against 5.91 per cent, improvement of better by 40 bps.

The bank also approved a proposal to raise Rs. 3,000 crore of capital through FPO/ Rights issue/ QIP/ Preferential issue or any other mode.

On Friday, the stock of Bank of Maharashtra closed at Rs. 19.30 per share, up by 3.43 per cent on BSE.