Bank of Maharashtra jumps on reporting a 2-fold jump in Q3 consolidated net profit

Bank of Maharashtra jumps on reporting a 2-fold jump in Q3 consolidated net profit

Indian Market
by 5paisa Research Team Last Updated: 2023-01-16T17:42:53+05:30

Today, the stock opened at Rs 32.00 and has touched a high and low of Rs 34.40 and Rs 31.90, respectively.

On Monday, the shares of Bank of Maharashtra closed at Rs 33.05, up by 1.35 points or 4.26% from its previous closing of Rs 31.70 on the BSE.

Today, the Bank of Maharashtra has reported results for the third quarter that ended on December 31, 2022 (Q3FY23).

The bank has reported a 2-fold jump in its net profit at Rs 775.03 crore for Q3FY23 as compared to Rs 324.63 crore for the previous year’s same quarter. The total income of the bank increased by 22.51% to Rs 4769.78 crore for the quarter under review as compared to Rs 3893.23 crore for the same quarter in the previous year.

On a consolidated basis, the bank has reported a 2-fold jump in its net profit at Rs 775.25 crore for the quarter under review as compared to Rs 324.85 crore for the same quarter in the previous year. Total income of the bank increased by 22.51% to Rs 4770.11 crore for the quarter under review as compared to Rs 3893.52 crore for the same quarter in the previous year.

Bank of Maharashtra is an Indian public sector bank headquartered in Pune. The bank had 29 million customers across the country with 2022 branches as of March 2022. It has the largest network of branches of any nationalised bank in the state of Maharashtra.

The BSE group 'A' stock of face value of Rs 10 has a 52-week high and low of Rs 36.25 and Rs. 15.00, respectively.

Last one week high and low of the scrip stood at Rs 34.40 and Rs 29.05 respectively. The current market cap of the company is Rs 22,244.29 crore.

The promoters holding in the company stood at 90.97%, while Institutions and Non-Institutions held 3.54% and 5.49% respectively.


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