Total income in the Q4 FY15 was at Rs 3,598.89 crore against Rs 3,372.48 crore in Q4 FY14.
Bank of Maharashtra's net profit went up by 98% in the fourth quarter of the fiscal ending March 31 at Rs 112.72 crore as against Rs 58.95 crore in the corresponding quarter of the previous fiscal.
The bank's operating profit during the reporting period was up by 17.38% at Rs 678.40 crore, against Rs 467.18 crore in the corresponding period of the previous fiscal.
Total income in the Q4 FY15 was at Rs 3,598.89 crore against Rs 3,372.48 crore in Q4 FY14.
"We had targeted to bring down both cost of fund and cost of deposit. While our cost of fund came down by 15 basis points to 6.39, our cost of deposits also came down by 23 basis points to 6.97 during Q4 FY15 against the corresponding quarter of the previous fiscal.
"Besides, our current account and savings account (CASA) went up by 119 basis points in Q4 FY15 to 37.09% over 35.90% in Q4 FY14," Bank of Maharashtra Executive Director R K Gupta told PTI.
However, the net NPA of the bank also went up to 4.19% in Q4 FY15 as against 2.03% during the corresponding period a year ago.
Citing the reasons, he said both corporate and infrastructure sector could not do well.
"Hence, our net NPA per cent shot up during the reporting period over the corresponding quarter of the previous fiscal," he said.
Net profit for the year rose 17% on a year-on-year basis for fiscal year 2014-15 at Rs 450 crore as against Rs 386 crore in FY14. Operating profit was up at Rs 2,355 crore in FY15 as against Rs 2,006 crore in FY14.
Total business of the bank reached Rs 2,23,329 crore as on March 31, 2015 as against Rs 2,07,171 crore as on March 31, 2014, registering a growth of 7.80% on a year-on-year basis. CASA has contributed 37.09% of the total deposits as of now, he said.
Gross advances crossed the Rs 1,00,000 crore mark and reached Rs 1,01,210 crore, registering a 12% growth during the reporting year.
Capital adequacy ratio under Basel III norms for the bank was at 11.94% as on March 31, 2015 as against required regulatory level of 9%.
Talking about the bank's plans for the current fiscal, R K Gupta said, "We are looking for a credit growth of 17% to 18% and a deposit growth of 15% during the current fiscal.
"Also, we are looking at NPA reduction and recovery of assets during the current fiscal. While we may recover NPA to the tune of Rs 150 crore in the current fiscal as against Rs 90 crore of NPA recovery done by us during the year gone by".
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