India's Tamilnad Mercantile Bank up on Q1 profit jump

Tamilnad Mercantile Bank

24/07/2023 08:45

** Shares of Tamilnad Mercantile Bank  TAMI.NS  rise as much as
3.5%, their biggest intraday pct gain since June 28
    ** Co reports 11.5% jump in Q1 profit; interest earned up
15.3% and provisions fall 29.4%
    ** Gross bad loan ratio at 1.56% vs 1.39% in previous
quarter
    ** Trading volume at ~473,000 shares as of 1:10 p.m IST,
4.0x the 30-day avg - Refinitiv data
    ** As of last close, stock down 10.3% YTD

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))