MAHABANK · Financial Services
Bank of Maharashtra reported total income of ₹5,875 cr for April to June 2024, +22.7% on the year and +7.5% on the quarter.
Net interest income, interest earned less interest paid, was ₹2,800 cr, +19.7% on the year and +8.3% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹1,295 cr, +46.5% on the year and +5.3% on the quarter, with earnings per share of ₹1.83. The tax rate of 4% is in line with its recent average.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
Net profit +46.5% on the year against net interest income +19.7% (interest earned ₹5,875 cr less interest paid ₹3,075 cr).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹5,172 cr | ₹5,467 cr | ₹5,875 cr | ₹6,017 cr | ₹6,325 cr | ₹6,731 cr | ₹7,054 cr | ₹7,128 cr | ₹7,344 cr | ₹7,755 cr | ₹8,035 cr | ₹8,606 cr |
| YoY | — | — | +23% | +19% | +22% | +23% | +20% | +18% | +16% | +15% | +14% | +21% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 3% | 4% | 4% | 4% | 4% | 3% | 6% | 10% | 11% | 14% | 11% | 15% |
| Net profit | ₹1,038 cr | ₹1,230 cr | ₹1,295 cr | ₹1,333 cr | ₹1,412 cr | ₹1,502 cr | ₹1,504 cr | ₹1,669 cr | ₹1,799 cr | ₹2,045 cr | ₹2,023 cr | ₹2,136 cr |
| YoY | — | — | +46% | +45% | +36% | +22% | +16% | +25% | +27% | +36% | +35% | +28% |
| EPS | ₹1.47 | ₹1.74 | ₹1.83 | ₹1.88 | ₹1.84 | ₹1.95 | ₹1.96 | ₹2.17 | ₹2.34 | ₹2.66 | ₹2.63 | ₹2.78 |
| Flags | · | · | 1 | 1 | · | · | · | · | · | · | · | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bank of Maharashtra reported total income of ₹5,875 cr (+22.7% on the year) and net profit of ₹1,295 cr (+46.5% on the year) for April to June 2024.
1 check raised a question: Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
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