Mumbai: Bank of Maharashtra on Tuesday posted a loss for the fourth straight quarter as bad loans continued to mount and provisions soared. The bank reported a loss of Rs182.51 crore in the December quarter, versus a net profit of Rs89.06 crore a year ago. Net interest income (NII) or the core income a bank earns by giving loans fell 27.7% to Rs702.14 crore from Rs971.43 crore last year. Gross non-performing assets (NPAs) rose 6.8% to Rs15,417.65 crore at the end of the December quarter from Rs14,433.90 crore in the September quarter. Net NPAs were at 10.67% in the December quarter compared to 9.94% in the previous quarter and 5.52% in the same quarter last year.

Source: Mint January 31, 2017 13:49 UTC