Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth

Tamilnad Mercantile Bank reported a 35 percent jump in Q1 profit, driven by strong income growth. Pre-provision operating profit rose 48 percent to Rs 611 crore, while net interest income climbed 32 percent to Rs 765 crore. Net interest margin improved to 4.29 percent, up 45 basis points year-on-year, and gross NPAs stood at a healthy 0.69 percent, improving 53 basis points YoY, with gross advances up 27 percent to Rs 57,306 crore.