Bank of Maharashtra posts net profit at Rs135.3cr; stock up 6%

Bank of Maharashtra posts net profit at Rs135.3cr; stock up 6%

Bank of Maharashtra posted a standalone net profit of Rs135.3cr in the quarter ended December 2019 as against a net loss of Rs3,764.3cr during the quarter ended December 2018.


NII rose 36% yoy to Rs1,186cr in the quarter under review as against Rs872.2cr in the year-ago period.

The bank’s gross NPA stood at 16.77% in Q3FY20 vs. 16.86% qoq. Net NPA came in at 5.46% on a qoq basis.

Stock view:
Bank of Maharashtra is currently trading at Rs14.44, up by Rs0.84 or 6.18% from its previous closing of Rs13.60 on the BSE.

The scrip opened at Rs13.80 and has touched a high and low of Rs15.24 and Rs13.50 respectively.




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