• Bank of Maharashtra's net profit rises by **36%** to **Rs 1,406 crore** in Q3 2024.
• HDFC Life reports a **14% increase** in profit, reaching **Rs 415 crore** during the same period.
• Both institutions show improved performance, despite varied results in total income.
• Bank of Maharashtra's gross NPAs decline to **1.80%**, while HDFC Life's solvency ratio varies slightly.
• HDFC Life's total income decreased from **Rs 26,694 crore** to **Rs 16,914 crore** year-on-year.

In a strong demonstration of financial growth, the **Bank of Maharashtra** (BoM) reported a substantial **36% rise** in net profit to **Rs 1,406 crore** for the third quarter ending December 2024. This marks an increase from **Rs 1,036 crore** during the corresponding period last year, driven by a boost in interest income. Total income surged to **Rs 7,112 crore**, up from **Rs 5,851 crore**, as outlined in a recent regulatory filing by the bank (source).

Notably, the bank successfully lowered its gross Non-Performing Assets (NPAs) to **1.80%** of total loans from **2.04%** a year prior. Furthermore, net NPAs decreased to **0.2%** from **0.22%**. The **Provision Coverage Ratio** (PCR) was reported at an impressive **98.28%** as of December 31, 2024. In addition, BoM raised **Rs 3,500 crore** through Qualified Institutional Placements, reducing the Government of India's shareholding to **79.60%**.

Meanwhile, **HDFC Life** recorded a **14% increase** in net profit, now standing at **Rs 415 crore**, up from **Rs 365 crore** the previous year. However, the insurer experienced a notable decline in total income, which dropped to **Rs 16,914 crore** from **Rs 26,694 crore** year-on-year (source). The solvency ratio of HDFC Life slightly decreased to **188%** from **190%**, remaining well above the regulatory benchmark of **150%**.

For the nine-month review, HDFC Life reported profits of **Rs 1,326 crore**, an improvement over **Rs 1,157 crore** from the same timeframe last year, highlighting overall resilience in the insurance sector amid challenging market conditions.