Bank of Maharashtra shares climb nearly 3 pc on strong Q1 profit

New Delhi, Jul 10 (PTI) Shares of public sector lender Bank of Maharashtra (BoM) on Friday ended nearly 3 per cent higher after the firm reported a 27 per cent jump in net profit for the April-June period of the current fiscal.

The stock ended at Rs 84.35, up 2.87 per cent from the previous close on the BSE. Intra-day, it climbed 6.58 per cent to Rs 87.40.

On the NSE, shares of the state-owned bank edged higher by 2.73 per cent to settle at Rs 84.25.

Bank of Maharashtra on Friday reported a 27 per cent jump in net profit to Rs 2,020 crore for the June quarter of Q1FY27, helped by a decline in bad loans and improvement in interest income.

The Pune-based lender had posted a net profit of Rs 1,593 crore in the year-ago period.

Total income in the quarter

under review rose to Rs 9,063 crore from Rs 7,879 crore in the same period a year ago, BoM said in a regulatory filing.

Interest earned by the bank grew to Rs 8,037 crore, compared to Rs 7,054 crore in the June quarter of FY26.

Net Interest Income (NII) grew by 15 per cent to Rs 3,770 crore in Q1FY27 as against Rs 3,292 crore for Q1FY26.

Operating profit increased 21 per cent to Rs 3,117 crore as against Rs 2,570 crore in the first quarter of the preceding financial year.

The bank’s asset quality improved as gross non-performing assets (NPAs) declined to 1.45 per cent of gross advances at the end of the June quarter of FY27 from 1.74 per cent a year ago.

Similarly, net NPAs, or bad loans, declined to 0.13 per cent as against 0.18 per cent in the year-ago period. PTI SUM SHM SHM