BoM posts Net profit of Rs 72.38 cr for Q4 FY 19

A. S. Rajeev, MD & CEO, Bank of Maharashtra (BoM) at a press conference announced the Bank’s  results for the Financial Year 2018-19. The Bank earned Net profit for Q4 FY 19 of Rs 72.38 crore as against loss of Rs 113.49 crore for Q4 FY 18.The  Operating profit for Q4 FY 19 is Rs 501 crores as against operating profit of Rs 547 crores for Q4 FY 18. The decrease in operating profit is mainly due to increase in depreciation on revalued asset by Rs 82 crore as per the revised AS 10 guideline.Net interest income for Q4 FY 19 was Rs 1000 crore as against Rs 881 crore for Q4 FY 18 registering growth of 13.47%.The  Net Interest Margin (NIM) is up by 23 BPS increasing from 2.41% for Q4 FY 18 to 2.64% for Q4 FY 19, he informed.