Bank of Maharashtra Q2 Net Profit Surges 72% To Rs 919.8 Cr

Bank of Maharashtra has reported a standalone net profit of Rs 919.8 crore in the second quarter of FY24. This represents a substantial increase of 72 per cent compared to Rs 535.1 crore in the corresponding quarter of the previous fiscal year.

During the quarter in question, the pre-provision operating profit (PPOP) experienced a robust 31.4 per cent growth, reaching Rs 1,920.4 crore, up from Rs 1,461.9 crore in the same period the previous year.

Furthermore, Bank of Maharashtra's other income showed a significant rise of 33 per cent, reaching Rs 667.6 crore compared to Rs 502.3 crore in the previous year.

In terms of provisions and contingencies, for the quarter ending in September, the bank allocated Rs 984.79 crore, marking an increase from Rs 579.27 crore in the previous year and Rs 776.11 crore in the previous quarter.