Bank of Maharashtra Sees Significant Profit Surge in Q1FY25, Stock Jumps 7%
The public sector bank reported a 46.6% year-on-year rise in profit after tax, leading to a surge in its stock price.
Bank Of MaharashtraNet ProfitQ1fy25Stock PricePublic Sector BankReal Estate MaharashtraJul 15, 2024
The bank's total business also saw a substantial increase of 13.43% year-on-year to Rs 4.76 trillion in Q1FY25, compared to Rs 4.20 trillion in Q1FY24. Deposits grew by 9.43% year-on-year to Rs 2.67 trillion, up from Rs 2.44 trillion in the same quarter last year.
The bank's net interest income (NII) also saw a significant increase of 20% year-on-year to Rs 2,799 crore, up from Rs 2,340 crore in the same quarter last year. Asset quality remained resilient, with gross non-performing assets (NPAs) decreasing slightly to 1.85% from 1.88% quarter-on-quarter. Net NPAs remained unchanged at a low 0.20%.
Provisions for bad loans were marginally higher during the June quarter at Rs 950 crore, compared to Rs 942 crore in the corresponding quarter of the previous year. The bank's total market capitalisation stands at Rs 49,031.43 crore, according to the Bombay Stock Exchange (BSE).
The company's shares are trading at a price to earnings multiple of 11.36, with an earning per share of Rs 5.73. The shares of the Bank of Maharashtra have zoomed 36.7% in the last six months, while rallying 115.3% in the last one year.
Information Bank of Maharashtra is a public sector bank headquartered in Pune, India. It was founded in 1935 and is one of the major banks in the country. The bank has a strong presence in the western and central regions of India, with over 1,900 branches and 1,500 ATMs.
The Bombay Stock Exchange (BSE) is the oldest stock exchange in Asia, established in 1875. It is the first stock exchange in the country to be granted permanent recognition under the Securities Contract Regulation Act, 1956.
Frequently Asked Questions
What is the net profit of Bank of Maharashtra in Q1FY25?
The net profit of Bank of Maharashtra in Q1FY25 is Rs 1,293 crore.
What is the year-on-year growth in profit after tax (PAT) of Bank of Maharashtra in Q1FY25?
The year-on-year growth in PAT of Bank of Maharashtra in Q1FY25 is 46.6%.
What is the total business of Bank of Maharashtra in Q1FY25?
The total business of Bank of Maharashtra in Q1FY25 is Rs 4.76 trillion.
What is the gross NPA ratio of Bank of Maharashtra in Q1FY25?
The gross NPA ratio of Bank of Maharashtra in Q1FY25 is 1.85%.
What is the market capitalisation of Bank of Maharashtra?
The market capitalisation of Bank of Maharashtra is Rs 49,031.43 crore.
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