Bank of Maharashtra reports stellar Q2 numbers

Bank of Maharashtra has reported results for the quarter ended September 30, 2011.

The bank’s net profit for the second quarter ended September 30, 2011, has jumped 92% to Rs 100.42 crore compared to Rs 52.3 crore in the corresponding quarter last year. The total income of the bank has risen by 36.44% from Rs 1,425.61 crore against Rs 1,945.15 crore for the second quarter.

The gross non-performing assets (NPAs) ratio of the bank declined by 143 basis points (bps) from 3.58% to 2.15%, while the net NPA ratio decreased by 161 bps from 2.18% to 0.57% on YoY basis.