Tamilnad Mercantile Bank Q3 Profit Up 6%, Asset Quality Improves

30 Jan 2025 , 11:20 PM

Tamilnad Mercantile Bank (TMB) has released its Q3 FY25 result, which shows a steady growth in profitability and better assets. Net profit was up 5.6% YoY basis at ₹300.2 crore as against ₹284.2 crore for the same period last year. The figures depict steady financial growth.

Net Interest Income (NII) grew 6.2% YoY to ₹570.4 crore as against ₹537.1 crore in Q3 FY24, led by good lending momentum and better interest income. The asset quality had improved due to Gross Non-Performing Assets declining at 1.32% as against 1.37% of the previous quarter, which was an indication of better loan management. Net NPAs also improved to 0.41% as against 0.46% in Q2 FY25, which is a reflection of lesser credit risk and healthier financial stability.

On the National Stock Exchange, TMB’s share closed at ₹425.45. It has fallen 1.41% over the last year; however, it has risen by 14% in absolute terms during the last year, which speaks well for the investment sentiment despite market volatility.