BoI, BoM, L& T Finance Post Strong Q1 Numbers

Mumbai: State owned Indian Bank and Bank of Maharashtra on Friday reported a solid performance for the quarter ended June 30, 2026, with growth across key metrics compared to the same period last year.

Indian Bank’s net profit increased to ₹3,273 crore, up 10.1 per cent from ₹2,973 crore in Q1 FY26 on improvement in asset quality. The Net Interest Income (NII) increased by 17 per cent to Rs 7,435 crore from Rs 6,359 crore in the June quarter of FY26. Domestic Net Interest Margin (NIM) improved to 3.41 per cent during the quarter from 3.35 per cent in June 2025. The bank's asset quality showed improvement as gross non-performing assets (GNPAs) declined to 1.86 per cent of gross advances at the end of the June quarter from 3.01 per cent a year ago.

Another state owned lender Bank of Maharashtra reported a 27 per cent year-on-year increase in net profit to ₹2,020 crore for the quarter ended June 2026 (Q1 FY27) driven by healthy growth in interest income and an improvement in asset quality. It had posted a net profit of ₹1,593 crore in the corresponding quarter of the previous financial year. Bank of Maharashtra’s asset quality improved with the GNPA ratio improving to 1.45 per cent of gross advances as of June-end, down from 1.74 per cent a year ago. The net NPA ratio also declined to 0.13 per cent, compared with 0.18 per cent in the same period of last year.

Meanwhile L&T Finance, one of the leading Upper-Layer Non-Banking Financial Companies (NBFCs) reported its highest ever consolidated net profit of Rs 902 crore for Q1FY27, up 29 per cent YoY, while also achieving its highest ever consolidated book of Rs 1.29 lakh crore up 27 per cent YoY.