Final Up to date: July 18, 2022, 19:09 IST
Financial institution of Maharashtra’s asset high quality improved with the gross NPAs falling to three.74 per cent of the gross advances as of June 30, 2022.
The financial institution’s whole earnings throughout April-June 2022-23 fell to Rs 3,774.32 crore from Rs 3,790.72 crore in the identical quarter of 2021-22, the state-owned financial institution stated in a regulatory submitting.
Financial institution of Maharashtra’s internet revenue greater than doubled to Rs 451.90 crore within the April-June quarter in comparison with Rs 208.01 crore within the year-ago quarter, the lender stated on Monday. Complete earnings throughout April-June 2022-23 fell to Rs 3,774.32 crore from Rs 3,790.72 crore in the identical quarter of 2021-22, the state-owned financial institution stated in a regulatory submitting.
The financial institution’s asset high quality improved with the gross non-performing belongings falling to three.74 per cent of the gross advances as of June 30, 2022, as towards 6.35 per cent within the year-ago interval. In worth phrases, gross NPAs stood at Rs 5,259.62 crore by Q1FY23, down from Rs 7,021.63 crore by Q1FY22.
The online NPAs got here all the way down to 0.88 per cent (Rs 1,206.43 crore) from 2.22 per cent (Rs 2,352.75 crore). Provisions for unhealthy loans and contingencies for the quarter fell to Rs 548.41 crore from Rs 753.10 crore in the identical quarter of FY22.
The Pune-based lender stated there was an affect because of change in accounting coverage, leading to lower in different earnings and internet revenue after tax by Rs 22.03 crore throughout the quarter ended June 30, 2022. Provision protection ratio (PCR) as of June 30, 2022 is 95.04 per cent, Financial institution of Maharashtra stated.
Shares of the financial institution had been buying and selling larger by 4.66 per cent at Rs 16.85 apiece on BSE.
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