MUMBAI: State-run Bank of Maharashtra (BoM) Monday reported a net profit of ₹72.38 crore in the quarter to March as against a net loss of ₹113.51 crore in the year-ago period. The bank, however, reported a net loss of ₹4,783.88 crore for full year to March 2019, more than four times the loss it had reported in FY18 at ₹1,145.65 crore. Total income rose to ₹3,160.79 crore in the reporting quarter from ₹3,094.46 crore in the same period last fiscal year, the lender said in a statement. In the reporting quarter, the bank classified loans worth ₹410.62 crore as fraud as per the RBI guidelines and holds 100% provisions for them. During the year, the bank made ₹387.53 crore in provisions for all performing and non-performing accounts of the bankrupt IL&FS, the bank said.

Source: Mint April 29, 2019 12:56 UTC