NEW DELHI: State Bank of Maharashtra (BoM) on Tuesday posted a 34 per cent rise in its profit at Rs 1,036 crore in the third quarter ended December 2023.
The Pune-based lender posted a net profit of Rs 775 crore in the same quarter a year ago.
Total revenue increased to Rs 5,851 crore during the quarter under review against Rs 4,770 crore in the same period last year, BoM said in a regulatory filing.
The bank earned interest income of Rs 5,171 crore during the quarter compared to Rs 4,129 crore in the same period a year ago.
The bank was able to reduce gross Non-Performing Assets (NPAs) to 2.04 percent of the gross loans by the end of December 2023 from 2.94 percent a year ago.
Similarly, net NPAs or bad loans fell to 0.22 percent from 0.47 percent at the end of the third quarter of the previous fiscal.