Photo: MintMumbai: Bank of Maharashtra on Saturday reported a net loss of Rs.337.15 crore for the September quarter due to higher provisions against the bad loans. This was the third consecutive quarter when the bank reported a loss. The bank reported a net loss of Rs.337.15 crore in the quarter against a net profit of Rs.72.03 crore from a year ago. Gross non-performing assets (NPAs) at the bank rose 10.69% to Rs.14,433.90 crore at the end of the September quarter from Rs.13,039.63 crore in the June quarter. Provisions and contingencies fell 15.86% to Rs.708.86 crore in the quarter from Rs.842.50 crore a quarter ago.

Source: Mint November 05, 2016 12:30 UTC