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Bank of Maharashtra gains on reporting over 4-fold jump in Q2 net profit

Bank Of Maharashtra is currently trading at Rs. 11.36, up by 0.31 points or 2.81% from its previous closing of Rs. 11.05 on the BSE.

The scrip opened at Rs. 11.90 and has touched a high and low of Rs. 11.90 and Rs. 11.37 respectively. So far 34440 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20.00 on 30-Apr-2019 and a 52 week low of Rs. 8.67 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 11.90 and Rs. 9.49 respectively. The current market cap of the company is Rs. 6435.64 crore.

The promoters holding in the company stood at 92.49%, while Institutions and Non-Institutions held 4.12% and 3.39% respectively.

Bank of Maharashtra has reported over four-fold jump in its net profit at Rs 114.66 crore for the quarter ended September 30, 2019 under review as compared to Rs 27 crore for the same quarter in the previous year. Total income of the Bank marginally increased by 3.23% at Rs 3,295.91 crore for Q2FY20 as compared Rs 3,192.80 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal improved to 16.86%, as compared to 18.64% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 5.48% in Q2FY20.

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