(20 second reading) Tamilnad Mercantile Bank (TMB) posted a flat net profit at Rs 253 crore in the Q4 2024 against the corresponding quarter last year on the back of provisions for increase in employees’ salary.
The operating profit also dipped by 9% at Rs 367 crore in Q4 FY24, which was at Rs 404 crore during the year ago quarter.
However, the bank recorded its highest ever net profit Rs 1,072 crore for the whole year in 2023-24, registering the growth rate of 4.2% over 2022-23.
While the slippage ratio decreased to 0.16% in Q4 FY24 from 0.21% in the corresponding quarter last year, the net NPA stood at 0.85% during the last quarter of 2023-24.