Bank of Maharashtra, a leading public sector bank based in Pune, Maharashtra, India, reported a 23% year-on-year rise in net profit to ₹1,593 crore for Q1FY26. The increase was driven by stronger interest income and improved asset quality.
Bank of Maharashtra, a public sector lender headquartered in Pune, Maharashtra, reported a net profit of ₹1,593 crore for the first quarter of the financial year 2025–26 (Q1FY26), marking a 23% rise from ₹1,293 crore in the same period last year.
In its regulatory filing on July 16, the bank announced that total income for the quarter ending June 2025 increased to ₹7,879 crore, up from ₹6,769 crore in Q1FY25. Interest income stood at ₹7,054 crore, a sharp rise from ₹5,875 crore year-on-year.
Bank of Maharashtra also showed notable improvement in its asset quality. Gross Non-Performing Assets (NPAs) fell to 1.74% of gross advances, compared to 1.85% in the same quarter last year. Net NPAs declined slightly to 0.18%, down from 0.20%.
Net Interest Income (NII) saw a year-on-year growth of 17.60%, while Net Interest Margin (NIM) remained stable at 3.95%, slightly lower than 4.01% in the March 2025 quarter.
Total business grew by 14% year-on-year to reach ₹5.46 lakh crore. Deposits increased to ₹3.05 lakh crore, while gross advances rose by 15.34% to ₹2.41 lakh crore.
Provisions for the quarter dropped to ₹867.41 crore, down from ₹983.29 crore in the preceding quarter. However, slippages—referring to fresh additions to NPAs—rose to ₹727 crore from ₹660 crore in Q4FY25.
Return on Assets (ROA) improved to 1.80% in Q1FY26 from 1.72% in Q1FY25, while Return on Equity (ROE) saw a decline to 23% from 27.62%.
Bank of Maharashtra’s continued operational efficiency and lending discipline highlight its efforts to maintain strong fundamentals in the face of a dynamic financial environment.
