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NEW DELHI: Public lender Bank of Maharashtra on Wednesday reported a loss of Rs 3,764.26 crore for December quarter due to Rs 4,421 crore provisions and contingencies it made during period.
The loss was six times higher than Rs 596.70 crore hit lender had reported in year-ago period.
Losses for quarter were almost equal to market capitalisation of bank (Rs 3,926 crore)
Yet, there was some respite on asset quality front.
The stock rallied 6.18 per cent in trade to Rs 15.11 on BSE.
The bank said its non-performing loan provision coverage ratio now stands at 81.08 per cent against 58.71 per cent as of March 31, 2018.
Percentage of NPA eased to 5.91 per cent in Q3FY19 over 10.61 per cent in Q2FY19.
The figure stood at 12.17 in Q3FY18.
Gross non-performing assets (NPAs) as percentage of total advances fell to 17.31 per cent for quarter from 18.64 per cent in September quarter and 19.05 per cent in year-ago quarter.
The bank made Rs 1,156.49 crore provisions for quarter in respect of 17 RBI-referred NCLT accounts looking at uncertainty in recovery.
It has made Rs 4,855.06 core of provisions in total for such accounts, representing 100 per cent of outstanding value, bank said.
Besides, out of 40 accounts under NPA category, bank made Rs 1,988.40 crore provisions due to deteriorating in value of underlying assets.
Total provisions made for such account at Rs 3,676.20 crore till December end now represents 100 per cent of outstanding amount, bank said.
