India Earnings - Bank of Maharashtra profit declined 22% to Rs 705.50 million

By Abhishek on 5:41 PM

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Bank of Maharashtra : Bank of Maharashtra disclosed a steep fall in its standalone net profit for the quarter ended September 2008. During the quarter, the profit of the bank declined 22% to Rs 705.50 million from Rs 904.50 million in the same quarter, last year. Interest earned for the quarter rose 26.21% to Rs 10,741.30 million, while total income for the quarter rose 3.44% to Rs 11,363.80 million, when compared with the prior year period. The company reported earnings of Rs 1.64 a share during the quarter, registering 21.90% decline over prior year period. Bank of Maharashtra is a public sector bank. It commenced business on Feb. 8, 1936 and was nationalized in 1969.

The bank now has 1,375 branches (as of 31st March 2008) all over India. The bank has the largest network of branches by any Public sector bank in the state of Maharashtra.

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