INSUBCONTINENT EXCLUSIVE:
New Delhi, Aug 3 () Bank of Maharashtra's June quarter net loss nearly trebled to Rs 1,119 crore as bad loans spiked, resulting into
higher provisioning coverage
The bank had reported a net loss of Rs 412.20 crore in the April-June period of 2017-18
Total income during the reported quarter fell to Rs 2,987.10 crore as against Rs 3,209.84 crore in the year-ago period, the bank said in a
The interest income was down 4 per cent to Rs 2,640.55 crore from Rs 2,744.89 crore in the year-ago period
The bank's gross non-performing assets (NPAs) worsened to 21.18 per cent of the gross advances by June-end 2018 against 18.59 per cent by
In value terms, gross bad loans or NPAs were at Rs 17,800.30 crore by the end of the quarter as compared to Rs 18,049.23 crore by June 2017
Net NPAs however fell to 12.20 per cent of net advances (Rs 9,195.01 crore) from 12.48 per cent (Rs 11,259.04 crore) in year-ago June
Provisioning for NPAs also increased to Rs 1,510.10 crore from Rs 1,157.54 crore in the year-ago period
Overall provisions and contingencies were Rs 1,632.88 crore in the June quarter as against Rs 1,151.60 crore in the year-ago period
The return on assets further fell to (-) Rs 2.83 for the quarter from (-) Rs 1.03 a year ago
Total assets of the bank were down at Rs 1,51,045.11 crore as on June 30, 2018 from Rs 1,53,739.59 crore
Stock of the bank traded 2.45 per cent down at Rs 13.13 on BSE.
