Bank of Maharashtra books Rs 120 crore loss in Q4

By: | Published: May 12, 2016 10:50 PM

State-owned Bank of Maharashtra (BoM) today posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

State-owned Bank of Maharashtra (BoM) today posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans. (AP)State-owned Bank of Maharashtra (BoM) today posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans. (AP)

State-owned Bank of Maharashtra (BoM) today posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

The bank had a net profit of Rs 112.72 crore in the January-March quarter of 2014-15 fiscal, BoM said in a statement.

Total income of the bank declined to Rs 3,566.68 crore in the January-March quarter, as against Rs 3,598.89 crore in the year-ago period.

For the entire 2015-16, the bank’s net profit slipped to Rs 100.69 crore, compared to Rs 450.69 crore in the previous fiscal.

However, the total income rose to Rs 14,072.27 crore from Rs 13,671.42 crore in 2014-l5.

As far as asset quality of the bank is concerned, the gross NPAs as a percentage to total advances rose to 9.34 per cent from 6.33 per cent in the same quarter a year ago.

Its net NPAs also increased to 6.35 per cent, from 4.19 per cent at the end of March 2015.

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