Bank Of Maharashtra Q2 FY27 Results: Consolidated Net Profit ₹2,310 Crore on Total Income of ₹9,736 Crore

Earnings
Banking

Blacklitt Research26 October 20262 min read

Bank Of Maharashtra (NSE: MAHABANK) reported consolidated total income of ₹9,736 crore and net profit of ₹2,310 crore for the quarter ended 30 Sep 2026, it said in a filing on 26 Oct 2026. Standalone total income was ₹9,735 crore and standalone net profit ₹2,310 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹9,735.67 crore, up 22.1% YoY and 7.4% QoQ
Net profit: ₹2,309.97 crore, up 41.4% YoY and 14.3% QoQ; ₹2,136.48 crore after minority interest
EPS: ₹2.78 basic, against ₹2.17 a year earlier
Other income: ₹1,129.28 crore, 11.6% of total income

Standalone

The company on its own, without its subsidiaries

Total income: ₹9,735.41 crore, up 22.1% YoY and 7.4% QoQ
Net profit: ₹2,309.59 crore, up 41.4% YoY and 14.3% QoQ
EPS: ₹3.00 basic, against ₹2.12 a year earlier
COVID-19 provision reversal: ₹250 crore reversed in the quarter; ₹510 crore still held

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	9,736	7,974	+22.1%	9,064	+7.4%
Other income	1,129	846	+33.6%	1,029	+9.8%
	2,310	1,634	+41.4%	2,021	+14.3%
Profit before tax	2,715	1,819	+49.3%	2,277	+19.2%
Tax expense	405	185	+118.4%	257	+57.7%
Net profit margin	23.73%	20.49%	+3.24 pp	22.29%	+1.43 pp
EPS, basic (₹)	2.78	2.17	+28.1%	2.63	+5.7%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit grew faster than income. Consolidated net profit rose 41.4% YoY against 22.1% growth in total income, and profit before tax rose 49.3%.

Other income of ₹1,129.28 crore is 41.6% of profit before tax of ₹2,714.72 crore. The notes show ₹250 crore of COVID-19 contingency provisions reversed in the quarter, which the auditors draw attention to in their emphasis of matter; the note says the reversal is being made in a calibrated manner in this financial year.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	9,735	7,974	+22.1%	9,063	+7.4%
Other income	1,129	845	+33.6%	1,029	+9.8%
	2,310	1,633	+41.4%	2,020	+14.3%
Profit before tax	2,714	1,818	+49.3%	2,277	+19.2%
Tax expense	405	185	+118.4%	257	+57.7%
Net profit margin	23.72%	20.48%	+3.24 pp	22.29%	+1.43 pp
EPS, basic (₹)	3.00	2.12	+41.5%	2.63	+14.1%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone figures track the consolidated ones closely.

Standalone EPS of ₹3.00 compares with ₹2.12 a year earlier, a rise of 41.5%, and with ₹2.63 in the previous quarter. Over the half year, standalone net profit was ₹4,329.78 crore, against ₹3,225.90 crore a year earlier.

Provisions and contingencies were ₹654.45 crore in the quarter, and operating profit before provisions was ₹3,366.67 crore. Gross NPA ratio was 1.25% and net NPA ratio 0.12%, and capital adequacy ratio 18.51%.

Inference

The filing says the Board approved the results on 26 Oct 2026 and that the statutory central auditors issued limited review reports with unmodified conclusions for both sets of results.

During the half year the bank redeemed Tier II bonds of ₹500 crore on maturity and raised USD 500 million of unsecured foreign currency bonds under its MTN programme, maturing September 2031. The notes also state a net fraud loss of ₹273.42 crore, fully provided for, and an additional ECL provision of ₹500 crore. The filing does not say what the USD bond proceeds will be used for, or whether the ₹1,091.10 crore IFR transfer affects distributable profit.

Reference: Original filing (PDF)

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