Highlights
- Consolidated net profit increased on a year-on-year basis during the June 2026 quarter.
- Total income and operating profit registered healthy growth compared with the year-ago period.
- The bank continued to improve its asset quality with lower Gross and Net NPA ratios.
- Provision Coverage Ratio remained above 98% during the quarter.
- The Board approved the unaudited financial results for the quarter ended June 30, 2026.
Bank of Maharashtra reported a healthy financial performance for the quarter ended June 30, 2026, with growth in interest earned, total income and profitability. The bank's consolidated net profit increased 26.8% year-on-year (YoY) to ₹2,02,054 lakh, compared with ₹1,59,309 lakh in the corresponding quarter last year. The quarter also witnessed an improvement in asset quality, supported by lower Gross and Net Non-Performing Asset (NPA) ratios.
Financial Performance
During the quarter, interest earned increased to ₹8,03,465 lakh from ₹7,05,398 lakh in the corresponding quarter of the previous year, registering a 13.9% YoY growth. Total income rose 15.0% YoY to ₹9,06,353 lakh, compared with ₹7,87,918 lakh reported in Q1 FY26.
Interest expended stood at ₹4,26,429 lakh, compared with ₹3,76,191 lakh a year earlier. Despite higher funding costs, operating profit before provisions and contingencies increased 21.3% YoY to ₹3,11,763 lakh from ₹2,57,040 lakh.
The bank reported provisions and contingencies (net) of ₹84,041 lakh, lower than ₹86,741 lakh in the corresponding quarter last year. As a result, profit before tax increased 33.7% YoY to ₹2,27,722 lakh, while net profit rose to ₹2,02,054 lakh after reporting a tax expense of ₹25,668 lakh. Earnings per share (EPS) improved to ₹2.63, compared with ₹1.96 in the year-ago quarter.
Asset Quality and Other Developments
Bank of Maharashtra continued to strengthen its asset quality during the quarter. Gross NPA improved to 1.45% from 1.74% in the corresponding quarter of the previous year, while Net NPA declined to 0.13% from 0.18%. The Provision Coverage Ratio (including technically written-off accounts) stood at 98.55%, compared with 98.36% a year ago.
The bank reported an annualised Return on Assets (RoA) of 1.90%, while its Net Profit Margin stood at 22.32%. As on June 30, 2026, the bank's consolidated total assets were ₹42,64,147.6 lakh, advances stood at ₹30,19,343.2 lakh, deposits were ₹34,44,930.1 lakh, and consolidated net worth was ₹32,90,029 lakh.
During the quarter, the bank reversed ₹25,000 lakh (₹250 crore) from its COVID-19 contingency provision, reducing the outstanding contingency provision to ₹76,000 lakh (₹760 crore). It also reported 47 fraud cases involving ₹10,622 lakh, against which provisions of ₹10,384 lakh were maintained. In addition, the Reserve Bank of India imposed a monetary penalty of ₹2 lakh (₹0.02 crore) during the quarter.
Conclusion
Bank of Maharashtra delivered a strong set of consolidated quarterly results for the June 2026 quarter, supported by growth in interest earned, total income and operating profit. Higher profitability, coupled with improving asset quality and a Provision Coverage Ratio of 98.55%, reflects the bank's continued focus on strengthening its financial position while maintaining healthy operational performance.
FAQs
Q: What was Bank of Maharashtra's consolidated net profit in Q1 FY27?
A: The bank reported a consolidated net profit of ₹2,02,054 lakh for the quarter ended June 30, 2026, compared with ₹1,59,309 lakh in the corresponding quarter last year.
Q: How much did Bank of Maharashtra's total income increase in Q1 FY27?
A: Total income increased to ₹9,06,353 lakh from ₹7,87,918 lakh, registering 15.0% YoY growth.
Q: What were the bank's Gross NPA and Net NPA ratios?
A: Gross NPA stood at 1.45%, while Net NPA was 0.13% as of June 30, 2026.
Q: What was the operating profit during the quarter?
A: Operating profit before provisions and contingencies increased to ₹3,11,763 lakh from ₹2,57,040 lakh in the corresponding quarter last year.
Q: What was the Provision Coverage Ratio as of June 30, 2026?
A: The Provision Coverage Ratio (including technically written-off accounts) stood at 98.55%.