Tamilnad Mercantile Bank falls despite reporting net profit of Rs 253 crore in Q4
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Tamilnad Mercantile Bank is currently trading at Rs. 493.25, down by 3.00 points or 0.60% from its previous closing of Rs. 496.25 on the BSE.
The scrip opened at Rs. 500.45 and has touched a high and low of Rs. 503.25 and Rs. 493.00 respectively. So far 8362 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 611.00 on 11-Sep-2023 and a 52 week low of Rs. 402.80 on 24-Apr-2023.
Last one week high and low of the scrip stood at Rs. 502.00 and Rs. 476.10 respectively. The current market cap of the company is Rs. 7810.69 crore.
The Institutions and Non-Institutions held 6.20% and 93.80% stake in the bank respectively.
Tamilnad Mercantile Bank has reported results for fourth quarter (Q4) and year ended March 31, 2024.
The bank has reported net profit of Rs 253.06 crore for the quarter under review as compared to Rs 253.05 crore for the same quarter in the previous year. Total income of the bank increased by 13.05% at Rs 1,417.61 crore for Q4FY24 as compared Rs 1,254.01 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the bank has reported 4.16% rise in its net profit at Rs 1,072.03 crore as compared to Rs 1,029.26 crore for the previous year. Total income of the bank increased by 16.62% at Rs 5,492.85 crore for year under review as compared to Rs 4,710.15 crore for year ended March 31, 2023.
