Tamilnad Mercantile Bank Q2 Results: Net profit rises 42% to record Rs 451 crore on high net interest income

What happened: Tamilnad Mercantile Bank reported a record net profit of Rs 451 crore for the July to September quarter, a 42% rise, driven by higher interest income. Key numbers: Net profit Rs 451 crore, up 42%. Interest income Rs 1,820 crore. Why it matters: Managing Director Salee Sukumaran Nair attributed the profit growth to net interest income, which the bank cited as the main driver of the record result.

Tamilnad Mercantile Bank reported a record net profit of Rs 451 crore for the July to September quarter, a 42% rise, driven by higher interest income.

Managing Director Salee Sukumaran Nair attributed the profit growth to net interest income, which the bank cited as the main driver of the record result.