Bank of Maharashtra, a state-run lender, posted a standalone net profit of ₹919.8 crore in Q2 FY24, marking a significant surge of 72% from ₹535.1 crore in the same period last fiscal year. The Net Interest Income (NII), the difference between interest earned and expended, grew by 28.9% YoY, reaching ₹2,432 crore from ₹1,887 crore.
Pre-provision operating profit (PPOP) in the same period jumped 31.4% YoY to ₹1,920.4 crore. The bank's other income also saw a rise of 33% YoY, reaching ₹667.6 crore. Asset quality showed improvement as well, with gross non-performing assets (NPA) dropping to 2.19% from 2.28% sequentially.