India's Bank of Maharashtra jumps on first quarterly profit in 11

Shares of Bank of Maharashtra Ltd jump 19.8 pct to 13.9 rupees, highest since Sept 18, after the lender posted its first quarterly profit in 11

Stock posts sharpest intraday pct gain since Oct 25, 2017

Lender said September-quarter net profit 270 mln rupees ($3.67 mln), compared with a loss of 232.4 mln rupees a year earlier

Asset quality also improved at the state-run bank; gross bad loans as a pct of total loans stood at 18.64 pct at end-Sept, compared with 21.18 pct in the previous quarter

Stock sees heaviest trading volume since mid-December 2017; about 7.9 mln shares change hands, compared with 30-day avg of 442,200 shares

Up to last close, stock down 49.2 pct this year ($1 = 73.5900 Indian rupees)

Re-disseminated by The Asian Banker from reuters.com

 

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