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Bank of Maharashtra Q1 profit up 23.2% at ₹1,593 cr on healthy NII growth
NII expanded 17.6 per cent to ₹3,292 crore in Q1FY26 compared to ₹2,799 crore in the same quarter a year ago (Q1FY25). Net interest margin (NIM) moderated to 3.95 per cent in Q1FY26 from 3.97 per cent in Q1FY25.
Nidhu Saxena, Managing Director and Chief Executive Officer of BoM, said the bank expects NIM to be around 3.75 per cent for FY26. The NIM for Q1FY26 is above the bank's guidance for FY26. Separately, the bank, in its analyst presentation, flagged risks, stating that falling interest rates could impact net interest margins.
The bank's non-interest income declined by 8 per cent YoY to ₹825 crore in Q1FY26.
Provisions for non-performing assets (NPAs) rose marginally to ₹719 crore in Q1FY26 from ₹586 crore in Q1FY25. There was an increase in slippages from the agricultural loan portfolio in the June quarter. The bank has been able to upgrade agri NPAs worth ₹270 crore as of July, Saxena said in a post-result virtual press meet.
Provisions for agri NPAs pushed up the credit cost to 1.19 per cent in Q1FY26 from 1.12 per cent in the March quarter of FY24. Agricultural NPAs rose to 9.65 per cent in June 2025 from 7.88 per cent in June 2024.
Advances grew 15.34 per cent YoY to ₹2.41 trillion in Q1FY26. Retail advances grew by 35.37 per cent YoY to ₹71,966 crore in the June quarter of FY26. Through its GIFT City branch, the bank expects to build a book of $1 billion.
Total deposits increased 14.08 per cent YoY to ₹3.05 trillion. The share of low-cost deposits—current account and savings account (CASA)—improved to 50.07 per cent at the end of June 2025 from 49.86 per cent a year ago. The bank has board approval to raise up to ₹10,000 crore through infrastructure bonds, which are exempt from meeting Cash Reserve Ratio and Statutory Ratios.
The credit-deposit ratio (C/D ratio) stood at 79.04 per cent in the June quarter of 2025, up from 78.17 per cent a year ago.
The bank's asset quality improved, with gross NPAs declining to 1.74 per cent in June 2025 from 1.85 per cent in June 2024. Net NPAs also declined from 0.18 per cent in June 2024 to 0.20 per cent in June 2025. The provision coverage ratio (PCR), including written-off accounts, stood at 98.36 per cent in June 2025, the same level as in June 2024.
The bank's capital adequacy stood at 20.06 per cent, with Tier-1 capital at 16.63 per cent at the end of June 2025. Although the bank has board approval for an equity offering of ₹5,000 crore, there are no firm plans for capital raising at present.
The Pune-based lender's shares ended 2 per cent higher, closing at ₹57.20.
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Mint
13 minutes ago
- Mint
How Trump and Putin reached a new make-or-break moment on Ukraine
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He targeted India, a major buyer of Russian oil, with 50% tariffs on its goods shipped to the U.S. Other nations that import Russian oil and gas, including China, could see their duties raised by Trump's Friday deadline for an agreement. But even Trump seemed less than optimistic Thursday following talks earlier in the week between his special envoy, Steve Witkoff, and Putin in Moscow. 'We're going to see what he has to say," Trump told reporters of Putin. 'That's going to be up to him." The White House is working on arranging a meeting with Putin but would like a three-way meeting with Ukrainian President Volodymyr Zelensky, said White House press secretary Karoline Leavitt. 'President Trump would like to meet with both President Putin and President Zelensky because he wants this brutal war to end," she said. The Russian leader said he is only open 'in principle" to talks with Zelensky. 'We are still far from creating such conditions," said Putin, who has frequently called into question Zelensky's legitimacy. Putin wouldn't have to agree to meet Zelensky for Trump to see him, the White House said. If the Trump-Putin summit happens, it could prove the biggest test of Trump's dealmaking skills this term. Trump returned to the White House vowing he could stop the war in Ukraine within 24 hours, later claiming he was merely joking. Privately, Trump is fuming at his failure to halt the war 200 days into his second presidency, according to aides. He has slowly come to recognize that a settlement must take account of Zelensky's bottom line and that of key European governments, who insist they won't recognize Russian control over any conquered territory—a key Kremlin demand—as part of an agreement. There is the added concern that Putin may not be serious about reaching a deal. 'Putin has made it clear that the Ukraine war is more important to him than the relationship with the U.S.," said Alina Polyakova, president and CEO of the Washington-based Center for European Policy Analysis. Another challenge for Trump will be navigating talks with a Russian leader who has a quarter-century of experience dealing with various U.S. presidents and has proved himself skilled in influencing them. If Trump meets with Putin and emerges empty-handed, he will have to decide whether to increase pressure on Russia, despite his skepticism that economic or military moves would alter the Kremlin's calculus, or follow through on a threat he had made repeatedly to abandon the peace process. Either way, Polyakova said, 'the war keeps dragging on." Russian President Vladimir Putin and Steve Witkoff, President Trump's envoy, in Moscow this week. Trump entered his second term confident his rapport with Putin would overcome the complexities of the war Russia launched in February 2022. 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Trump could cut off intelligence and military support for Ukraine, as he did earlier this year, setting back Zelensky's efforts to align himself more closely with Trump following a combative Oval Office meeting in February. The U.S. could also remove itself from the diplomatic process entirely, leaving Moscow and Kyiv to continue what Trump has long labeled 'Biden's war." But those who know Trump suspect he will keep pursuing the most prized deal of his early presidency, where success or failure could define his legacy. 'He wants to be the guy who gets deals," said Marc Short, a first-term senior White House aide. 'That is his brand." Write to Alexander Ward at Alex Leary at and Matthew Luxmoore at
Mint
an hour ago
- Mint
Best stocks to buy—recommended by NeoTrader's Raja Venkatraman for 8 August
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Cigniti Technologies' Q1 FY26 results emerged against a volatile mid-cap backdrop, where the Nifty Midcap 100 plunged roughly 18% from its September 2024 high and was down over 13% year to date by mid-2025, even as the Nifty Midcap 150 rebounded 6% in the last quarter. Early August saw renewed selling, with the Midcap 100 sliding 0.77% on 6 August amid FII outflows and global trade tensions. Against this, Cigniti delivered consolidated revenue of ₹534.2 crore, up 0.7% sequentially and 14.0% year-on-year, and net profit of ₹65.9 crore—a 9.97% quarter-on-quarter dip but a staggering 528% on-year jump off a soft base. Amid lingering macro headwinds—from cautious domestic investors to unchanged RBI rates—Cigniti's healthy on-year growth, prudent cost management, and focus on quality-engineering services underscore its ability to outperform peers and capitalize as mid-cap sentiment recovers. 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Looking ahead, CIGNITITEC aims to capitalize on India's accelerating digitalization of digital networks. Adani Power Ltd Adani Power's Q1FY26 results were unveiled against a backdrop of significant mid-cap underperformance. The Nifty Midcap 100 index plunged roughly 18% from its September 2024 peak and has slid 13 % year to date by mid-2025, while the broader mid-cap segment rebounded 6% in the last quarter before renewed selling drove a 0.77 % drop on 6 August amid FII outflows and global trade tensions. In this environment, Adani Power posted a consolidated net profit of ₹3,305.13 crore for Q1FY26, down 15.5 % on-year from ₹3,912.79 crore, dragged by lower merchant tariffs and elevated operating expenses post-acquisitions. Revenue dipped 5.7 % to ₹14,109.15 crore. Continuing Ebitda of ₹5,744 crore contracted 8.6% on-year but expanded 12.7% on-quarter, supported by higher merchant tariffs, lower fuel costs and enhanced capacity utilization that lifted power sales 1.6% to 24.6 billion units. An early monsoon dampened domestic power demand, which fell 1.8% on-year to 481BU, yet Adani Power's diversified merchant mix and strategic acquisition of a 600MW Vidarbha plant underscore its resilience and growth trajectory. This counter has been steadily making a higher high, higher low in this calendar year after some steady decline since July highs, due to some steady profit booking. After forming a long body candle at cloud support, the stock is indicating potential to move higher. The revival from the cloud region on Thursday augurs well for the prices. The volume-led rise is leading to a strong recovery. Further, the prices are seen reviving, holding on to the ascending trendline support that could now produce a rebound. With India's mid-cap markets under pressure and RBI rates unchanged, Adani Power's robust balance sheet, recent stock split announcement and ongoing capacity expansions position it to navigate volatility and capitalize on an eventual market rebound. Entertainment Network (India) Ltd ENIL's latest quarterly performance emerges against a backdrop of mid-cap volatility. After the Nifty Midcap 100 plunged roughly 18% from its September 2024 peak and endured a 13% year-to-date drop by mid-2025, the segment has seen selective rebounds, with the Nifty Midcap 150 climbing over 6% in the last quarter. However, broader mid-cap benchmarks, including the Nifty Midcap 100, remained under pressure into early August, sliding 0.77% on 6 August as FII outflows and global headwinds weighed on sentiment. In this climate, ENIL reported Q1FY26 consolidated revenues of ₹117 crore, up 3% on-year, underpinned by domestic revenues rising 3.2% to ₹113 crore, while Ebitda expanded 3.6% to ₹6.2 crore. Its events and solutions business surged 33%, reflecting successful diversification, and the digital segment posted revenues of ₹21.7 crore—40.7% of core radio ad revenues compared to 24.8% last year—achieving this growth with reduced investment of ₹9.8 crore vs ₹14.2 crore a year ago. Bolstered by a cash reserve of ₹349 crore, ENIL's robust balance sheet and evolution into a multimedia platform position it to weather ongoing market volatility and capitalize on mid-cap recovery opportunities ahead. This counter joins the list of some steady recovery seen in select media stocks. Over the last three months, the move has been a gradual consolidation in this counter. The strong rise seen in the last two days has managed to breach an important resistance level around ₹155 and is heading higher. In the last few days, the financial resilience has been acknowledged, giving way to much higher grounds in the coming days. With the trends now showing the possibility of more upward traction, one can consider initiating a long opportunity in the coming weeks. As the bullish bias is steadily stepping in one should look at trading as well as investing into this counter. While its core radio ad business was subdued by a high base of one-off political ads in Q1FY25, ENIL's pivot to events and digital offset this drag. As investors face headwinds from global trade tensions and FII outflows, ENIL's diversified revenue mix and lean cost structure enhance its resilience. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
an hour ago
- Time of India
Ganeshotsav 2025: Just 19 Days To Go, But NMC Yet to Announce Mandal Permission Process
1 2 Nagpur: With just 19 days left for Ganeshotsav, the Nagpur Municipal Corporation (NMC) is yet to officially announce the start of the application process for sarvajanik Ganesh mandals seeking permission to install idols and erect pandals. The delay has sparked confusion among organisers and is already leading to traffic disruptions in several parts of the city. Though the civic body has unofficially begun accepting applications, many mandals have gone ahead with pandal construction and installation of decorative arches — often encroaching on roads and obstructing traffic, particularly in residential areas and commercial hotspots. Without a formal, regulated process in place, NMC officials are struggling to conduct inspections or enforce rules, as sites have not been officially demarcated. In 2024, NMC received 1,169 applications, of which 917 were approved and 102 rejected, mostly due to duplication or incomplete documents. All related charges were waived. In contrast, 1,277 applications were submitted in 2023, of which 876 were approved. That year, NMC collected Rs8.06 lakh in charges. It was during the 2023 cycle that NMC first launched its online application portal to streamline the process. Last year, fees charged by departments such as fire and emergency services, garden, and estate were scrapped. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like We Have No Words For Dog The Bounty Hunter's Transformation Paperela Undo by Taboola by Taboola Idol makers were also exempted from mandatory fire safety charges. However, no such exemptions have been officially announced for 2025, leaving organisers in a lurch. Officials say the civic body may again waive all charges, but a final decision is pending. "Additional municipal commissioner Vaishali B has conducted a preliminary meeting, but without a formal notification from the state government on fee waivers, NMC is unsure whether to levy charges," said a senior official. Until recently, the estate department collected ₹5 per sq ft depending on the size of the pandal, in addition to a ₹500 sanitation fee. The solid waste management department has already proposed a waiver of the sanitation fee again this year. Meanwhile, the estate department is expected to send its recommendations to municipal commissioner Abhijeet Chaudhari shortly, after which a comprehensive decision will be taken. Organisers say the delay is proving to be both logistically and financially burdensome. "It takes 15–20 days to build a large pandal, especially those with elaborate themes or social messages. We can't wait till the last moment. Without permissions, we risk action, but we have no option," said a member of a prominent Mahal-based mandal. Another organiser from Hanuman Nagar noted that preparations involve multiple stakeholders — including electricians, artists, carpenters, and volunteers — all of whom require advance clarity. "The framework, lighting, safety arrangements — everything takes time. The uncertainty is affecting planning and increasing costs," he said. In the absence of a formal announcement, many mandals remain unsure whether to proceed with official applications or continue with on-ground preparations without permits. This ambiguity has also impacted enforcement, as NMC has not begun site inspections or marking of approved pandal zones. Although no new circular has been issued so far, the sanitation department has confirmed that the ban on plastic and thermocol decorations remains in effect. All mandals will be required to adhere to eco-friendly guidelines. Deputy municipal commissioner (IT) Milind Meshram confirmed that the online application portal will go live on August 8. So far, seven applications have already been received from various zones — one from Laxmi Nagar, two from Mangalwari, three from Hanuman Nagar, and one from Lakadganj. Unless NMC acts swiftly and issues a formal circular, the current delay could result in last-minute chaos, with hundreds of mandals scrambling for permissions — leaving insufficient time for safety audits, traffic planning, and crowd management ahead of the festival. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and s ilver prices in your area.
