Public sector Bank of Maharashtra (BoM) and state-run development financial institution IDBI have reported huge slides in their profits for the quarter ended December 31, 2013.

Pune-based BoM said its net profit slipped from Rs 194.06 crore in the third quarter of fiscal year 2012-13 to just Rs 15.85 crore in the third quarter of current fiscal.

However, the bank's total income jumped from Rs 2,710.16 crore to Rs 3,307.49 crore; while provisions other than tax & contingencies during the three months under review jumped three-fold from Rs 143.89 crore to Rs 407.78 crore.

The big slide in net profit in the third quarter of 2013-14 was due to higher provisioning for bad loans. Commenting on the quarterly results, Chairman Sushil Mohnot said, "The steep fall is due to a bigger provision for Non-Performing Assets (NPAs) and employee costs."

IDBI Bank also reported a steep decline in its quarterly net. It announced that it net profit slipped 75 per cent to Rs 103.96 crore in the October-December quarter of 2013-14, from Rs 416.76 crore in the corresponding period of the previous year.

The state-run development financial institution blamed fall in other income for the decline in its quarterly net profit. Its other income slipped from Rs 869.83 crore to Rs 532.06 crore.

IDBI's gross non-performing assets (NPAs) jumped Rs 6,401.43 crore to Rs 10,012.44 crore, while the percentage of gross NPAs climbed from 3.67 per cent to 5.44 per cent. As on December 31, its total business (deposits and advances) stood at Rs 372,387 crore.