Tamilnad Mercantile Bank (TMB) shares surged more than 4% in early trade after the lender posted steady earnings for the September quarter (Q2 FY26). As of 9:31 AMN, the shares were trading 3.84% higher at Rs 474.85. It has jumped 3.88% this year, so far.
The bank’s Net Interest Income (NII) inched up 0.2% year-on-year to ₹597 crore, while operating profit slipped 2.7% to ₹452 crore.
Provisions dropped sharply by 69.2% to ₹20 crore from ₹64.9 crore last year. Net profit rose 4.7% to ₹318 crore compared to ₹303 crore in the same quarter last year.
Asset quality improved further, with Gross NPA declining to 1.01% from 1.22% sequentially, and Net NPA easing to 0.26% from 0.33%.
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