Bank of Maharashtra Share Price Q4 Results rajkotupdates.news : pubg developer krafton has filed a lawsuit against garena free fire

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Bank of Maharashtra Share Price Q4 Results Net profit climbs 135%YOY to 840 Crore

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Shortly after the quarterly results were revealed, the price of Bank of Maharashtra's shares on the BSE soared by almost 8.7%, to Rs 30.25. In Q4FY23, the bank reported net interest income of Rs 2,187 crore, up 35.7% from the Rs 1,612 crore reported in the same quarter of the previous year.According to the financial data released by the state-run lender on April 24, Bank of Maharashtra earned a net profit of Rs 840 crore in the fourth quarter of fiscal year 2022–23, a 135 percent increase over the Rs 355.2 crore registered in the same time the previous year. In Q4FY23, the bank's net interest income (NII) totaled Rs 2,187 crore, a 35.7 percent increase over the Rs 1,612 crore reported in the same quarter of the previous fiscal year.

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As of March 31, 2023, the bank's gross non-performing asset (NPA) percentage was 2.47 percent, which is less than the 3.94 percent that was reported at the end of the third quarter.
With a net profit of 840 crore, Bank of Maharashtra (BoM) posted its greatest quarterly net profit ever. The bottom line was helped by substantial increases in both net interest income and non-interest income as well as a significantly reduced tax burden.
The public sector bank with its headquarters in Pune reported a net profit that increased 136% year over year (y-o-y) from the prior quarter's $355 crore to the current quarter.
The bank's board of directors recommended a dividend of $1.30 (or 13%) each fully paid equity share worth $10.
Net interest income (the difference between interest received and interest paid) increased 36% year over year to 2,187 crore in the reporting quarter from 1,612 crore in the same quarter last year. Fee-based revenue, treasury income, and recovery from written-off accounts together made up non-interest income, which increased by 57.
To 71 crore (458 crore), the provision for tax (net of deferred tax asset) decreased by 85% year over year. Provisions and contingencies, which include provisions for non-performing assets (NPAs), standard/restructured assets, and non-performing investments, increased to 945 crore (365 crore) from the previous year.Gross non-performing assets (NPAs) as of March-end 2023 decreased from 3.94 percent to 2.47 percent of gross advances. The ratio of net NPAs to net advances has decreased from 0.97 to 0.25 percent. The Net Interest Margin (NIM) increased from 3.17 to 3.78 percent.
 The bank should grow its overall business (deposits plus advances) to $5 billion in FY24 from $4.09 billion in FY23, according to AS Rajeev, MD & CEO, and maintain a NIM above 3.50 percent.
In contrast to the 30% rise in FY23, the bank anticipates advances to increase by 20–22% in FY24.
Bank Of Maharashtra Share price 

In Daily chart Time frame Stock clearly shows breakout with good volume Next immediately target will be 35
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