
Tamilnad Mercantile Bank has announced a 10% rise in its net profit for the first quarter of FY25, ending June 30.
Key Financial Highlights:
Metric | Current Quarter | Previous Year | Change |
---|---|---|---|
Net Profit | ₹287.3 crore | ₹261.23 crore | +10% YoY |
Net Interest Income | ₹174.8 crore | ₹161.9 crore | +8% YoY |
Gross NPA | ₹587.66 crore | ₹575.06 crore | Flat |
Net NPA | ₹261.56 crore | ₹335.82 crore | -22% |
Net NPA Ratio | 0.65% | 0.85% | -20 bps |
Gross NPA Ratio | 1.44% | 1.44% | Flat |
Performance Insights:
- Net Profit: The bank’s net profit increased to ₹287.3 crore, up from ₹261.23 crore in the same quarter last year.
- Net Interest Income: Net interest income grew by 8% to ₹174.8 crore.
- Asset Quality: Gross non-performing assets (NPA) were ₹587.66 crore, slightly higher than ₹575.06 crore in the March quarter. However, net NPA improved significantly to ₹261.56 crore, down from ₹335.82 crore previously.
- NPA Ratios: The net NPA ratio decreased to 0.65% from 0.85% in the previous quarter, while the gross NPA ratio remained stable at 1.44%.
Tamilnad Mercantile Bank’s financial results reflect a solid performance in the June quarter, with improved asset quality and a notable increase in net profit
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