Bank of Maharashtra Q2 results: Net profit jumps 41% to ₹2,310 crore, NII rises 22%

Bank of Maharashtra on Monday reported a 41.42% year-on-year (YoY) increase in net profit to ₹2,310 crore for the second quarter of FY27, compared with ₹1,633 crore in the year-ago quarter. On a sequential basis, net profit grew 14.33% from ₹2,020 crore in the preceding quarter.

Net interest income (NII) grew 21.76% YoY to ₹3,954 crore in Q2 FY27, compared with ₹3,248 crore in the year-ago quarter. On a sequential basis, NII increased 4.89%, the public sector lender said in its earnings report.

Total income rose 22.1% YoY to ₹9,735 crore in Q2 FY27, compared with ₹7,974 crore a year earlier. On a quarter-on-quarter (QoQ) basis, total income increased 7.42% from ₹9,063 crore in Q1 FY27.

Operating profit increased 30.86% to ₹3,369 crore from ₹2,574 crore a year earlier, while provisions and contingencies rose 12.54% to ₹1,059 crore.

Advances grow 30%; asset quality improves

Bank of Maharashtra’s total global business increased 25.16% YoY to ₹7.06 lakh crore as of September 30, 2026. Global deposits rose 21.5% to ₹3.76 lakh crore, while gross global advances grew 29.61% to ₹3.29 lakh crore. Net advances increased 30.16% to ₹3.26 lakh crore.

The bank’s retail, agriculture and MSME (RAM) business grew 24.69% YoY. Retail advances rose 20.91% to ₹94,582 crore, while MSME advances increased 24.69% to ₹58,049 crore.

Asset quality improved during the quarter. The gross non-performing asset (NPA) ratio declined to 1.25% as of September 30, 2026, from 1.72% a year earlier and 1.45% at the end of June 2026. The net NPA ratio eased to 0.12%, compared with 0.18% a year earlier and 0.13% in the previous quarter.

The provision coverage ratio stood at 98.53%, compared with 98.34% a year earlier. The bank’s Basel III capital adequacy ratio stood at 18.51% at the end of September, with a Common Equity Tier 1 ratio of 15.61%.

For the first half of FY27, net profit rose 34.22% YoY to ₹4,330 crore, compared with ₹3,226 crore in the year-ago period. Operating profit increased 26.08% to ₹6,486 crore, while NII grew 18.12% to ₹7,724 crore.

The bank’s cost-to-income ratio improved to 33.73% in Q2 FY27 from 37.10% in the year-ago quarter and 35.04% in the preceding quarter. Return on assets improved to 2.02%, compared with 1.82% a year earlier.

Ahead of the results, Bank of Maharashtra shares ended 1.06% higher at ₹76.10 on the BSE, with a market capitalisation of ₹58,532.73 crore.