Bank of Maharashtra: Q2-FY2023 results highlights

Gross NPA declined to 3.40 per cent as on September 30, 2022, against 5.56 per cent as on September 30, 2021. The same was 3.74 per cent as of June 30, 2022.

Net Profit up by 102.93 per cent to Rs 535 crore in Q2FY23 on a Y-o-Y basis as against Rs 264 crore for Q2FY22. The same is up by 18.40 per cent on a Q-o-Q sequential basis.

• Operating Profit has shown a growth of 4.43 per cent on a Y-o-Y basis to Rs 1,462 crore for Q2FY23 against Rs 1,400 crore for Q2FY22.
• Net Interest Income (NII) grew by 25.84 per cent on a Y-o-Y basis to Rs 1,887 crore in Q2FY23 as against Rs 1,500 crore for Q2FY22. The same is up by 11.94 per cent on a Q-o-Q sequential basis.
• Net Revenues (Net Interest income plus other income) for Q2FY23 improved by 2.48 per cent from Rs 2,331 crore for Q2FY22 to Rs 2,389 crore for Q2FY23.
• The cost to Income Ratio improved to 38.82 per cent for Q2FY23 as against 39.96 per cent for Q2FY22. The same was 39.99 per cent for the quarter ended June 30, 2022.
• Return on Assets (ROA) improved to 0.92 per cent for Q2FY23 against 0.53 per cent for Q2FY22 and 0.81 per cent for Q1FY23.
• Return on Equity (ROE) also improved to 18.32 per cent for Q2FY23 against 11.45 per cent for Q2FY22 and 16.75 per cent for Q2FY23.

H1-FY2023 results highlights:

• Net Profit up by 109.24 per cent to Rs 987 crore in HYFY23 on a Y-o-Y basis against Rs 472 crore for HYFY22.
• Operating Profit has shown a growth of 6.27 per cent on a Y-o-Y basis to Rs 2,664 crore for H1FY23 as against Rs 2,506 crore for HYFY22.
• Net Interest Income (NII) grew by 22.97 per cent on a Y-o-Y basis to Rs 3,573 crore in H1FY23 as against Rs 2,905 crore for H1FY22.
• Fee-based income increased by 5.66 per cent on a Y-o-Y basis to Rs 587 crore for H1FY23.
• The cost to Income Ratio improved to 39.35 per cent for H1FY23 as against 43.35 per cent for H1FY22.
• Return on Assets (ROA) improved to 0.87 per cent for H1FY23 against 0.47 per cent for H1FY22
• Return on Equity (ROE) also improved to 16.90 per cent for H1FY23 against 10.43% for H1FY22.

Asset quality:

• Gross NPA declined to 3.40 per cent as on September 30, 2022, against 5.56 per cent as on September 30, 2021. The same was 3.74 per cent as of June 30, 2022.
• Net NPA declined to 0.68 per cent as on September 30, 2022, against 1.73 per cent as on September 2021. The same was 0.88 per cent as on June 30, 2022.
• The provision coverage ratio improved to 96.06 per cent as of September 30, 2022, as against 92.38 per cent as of September 2021. The same was 95.04 per cent as on June 30, 2022.
• Bank holds a cumulative Covid-19 provision of Rs 1,200 crore as on September 30, 2022.