Bank of Maharashtra's net profit jumped 41.42% in the quarter ended Sept. 30, 2026, as stronger interest income coincided with lower bad-loan ratios and rapid growth in deposits and advances.
The bank reported net profit of ₹2,310 crore for Q2 FY27, compared with ₹1,633 crore in the same quarter a year earlier. Net interest income increased 21.76% to ₹3,954 crore, and operating profit rose 30.86% to ₹3,369 crore, according to results released Oct. 26. The comparisons are against the quarter ended Sept. 30, 2025.
The gross nonperforming asset (NPA) ratio stood at 1.25% of advances at Sept. 30, down from 1.72% a year earlier. The net NPA ratio fell to 0.12% from 0.18%, while the provision coverage ratio edged up to 98.53% from 98.34%.
Business balances expanded as well. Global deposits grew 21.50% year over year to ₹3,76,407 crore, while gross global advances rose 29.61% to ₹3,29,359 crore as of Sept. 30, the bank said in its investor presentation.
Return on assets increased to 2.02% from 1.82% a year earlier. The Economic Times quoted Managing Director and CEO Nidhu Saxena saying, “We will take steps to maintain RoA at 2% plus.”
The bank's results release listed provisions and contingencies of ₹1,059 crore, compared with ₹941 crore in Q2 FY26. The Economic Times and NDTV Profit each reported a figure of ₹654 crore, down from ₹756 crore; The Economic Times also reported a ₹500 crore provision for the expected credit loss regime. The bank's release did not say whether these figures use the same basis.
