Bank of Maharashtra Q2 profit rises 41% to Rs 2,310 crore

Bank of Maharashtra reported net profit of Rs 2,310 crore for the September quarter of FY27, up 41.4% from Rs 1,633 crore in the same quarter last year. Bank of Maharashtra Q2 profit was the highest in eight quarters, according to The Hindu BusinessLine. The Pune-based public sector bank approved the results on 26 October 2026.

Bank of Maharashtra Q2 profit was driven by higher interest earnings and other income. Net interest income rose 22% to Rs 3,954 crore, from Rs 3,248 crore a year earlier. Other income, which includes fees, commission income, foreign exchange earnings and recoveries from written-off accounts, rose 34% to Rs 1,129 crore, from Rs 845 crore.

Bank of Maharashtra Q2 profit and margins

Net interest margin widened to 3.97% in the Bank of Maharashtra Q2 profit quarter, from 3.85% a year earlier. Operating profit rose 30.86% to Rs 3,369 crore, according to an earnings summary published by Quartr. Total income for the quarter was Rs 9,735 crore on a standalone basis, while profit before tax was Rs 2,714 crore.

Total business reached Rs 7,05,766 crore at the end of September 2026 in the period, up 25.16% from a year earlier. Global deposits grew 21.5% to Rs 3,76,407 crore. Global advances grew 29.61%. The cost-to-income ratio was 33.73% in the quarter, and the cost of deposits was 4.33%.

Bank of Maharashtra Q2 profit and asset quality

Gross non-performing assets fell to 1.25% of gross advances at the end of September 2026 in the Bank of Maharashtra Q2 profit report, from 1.72% a year earlier. Net non-performing assets fell to 0.12% of net advances, from 0.18%. The bank said asset quality improved alongside growth in advances during the quarter.

Low-cost current account and savings account deposits made up 46.47% of domestic deposits at the end of September 2026, down from 50.35% a year earlier. Managing director and chief executive Nidhu Saxena linked a rise in provisioning for standard and restructured assets to Rs 500 crore of extra provisioning made to meet Expected Credit Loss norms. Provision for standard and restructured assets rose to Rs 603 crore, from Rs 158 crore a year earlier.

Bank of Maharashtra Q2 profit in first half

Net profit for the first half of FY27 was Rs 4,330 crore in the first-half accounts, up 34% from a year earlier. The bank said all stated guidance measures for FY27 were met in the quarter, with asset quality, profitability and capital ratios holding firm. Statutory auditors gave unmodified limited-review conclusions on the results, according to Quartr.

Bank of Maharashtra Q2 profit came in a quarter when several public sector lenders reported gains from higher interest income and lower credit costs. The bank has not announced a fresh capital raising plan alongside these results in the reports published so far. Its next quarterly update will show whether deposit growth and loan growth hold at the pace reported for September 2026.

Net interest income remained the main earnings driver, and net interest income growth of 22% outpaced the rise in other income in percentage terms in some lines but not in total. Total business growth to Rs 7,05,766 crore reflected both deposit and loan growth, and total business had risen 25.16% from a year earlier. The bank is a public sector bank based in Pune, and as a public sector bank it reports to the same disclosure rules as other state-owned lenders. Its improvement in loan quality was the clearest gain in the quarter, with gross bad loans falling as a share of advances.