Bank of Maharashtra Q3 results: Net profit upgrade 36% to Rs 1,407 crore

Bank of Maharashtra on January 15 reported a 36% year-on-year rise in its consolidated net profit to Rs 1,406.73 crore in the third quarter of FY25. On a yearly basis, the bank’s total income grew 22% to Rs 7,112.66 crore.

Following the announcement, Bank of Maharashtra shares closed 3% lower at Rs 51.14 per share on January 15. The shares have declined nearly 25.6% in the last six months so far.

The percentage of net non-performing assets (NPAs) of Bank of Maharashtra in the third quarter remained unchanged at 0.2% from the previous quarter (Q2). However, this is lower than the 0.22% net NPA recorded in the third quarter of the previous financial year (FY24).

However, the percentage of gross NPAs has declined from 2.04% in Q3 FY24 to 1.80% in Q3 FY25. Notably, the percentage of shares held by the government in the bank witnessed a decline during the quarter.

The Government of India held 79.6% of the bank’s shares in Q3 FY25, down from 86.46% in Q3 FY24.