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This is the first quarterly results after the listing of shares of the Tamil Nadu-based bank on bourses last month.
Total income during the quarter rose to Rs 1,141 crore from Rs 1,101 crore a year ago, TMB said in a regulatory filing.
Interest income grew to Rs 997 crore during the quarter as against Rs 950 crore in the same quarter a year ago.
Gross non-performing assets (NPAs) were reduced to 1.70 per cent of gross advances as of September 30, 2022 from 3.31 per cent by the end of September 2021.
Net NPAs also came down to 0.86 per cent from 1.82 per cent.
The fall in bad loans ratio helped cut the provisions towards NPAs and contingencies for Q2FY23 to Rs 34 crore from Rs 39 crore a year ago.
The total business of the bank stood at Rs 78,013 crore with a growth rate of 7.43 per cent at the end of September 2022.
Net interest margin of the bank stood at 4.47 per cent while Provision Coverage Ratio increased to 88.58 per cent.
The bank’s stock closed 6.21 per cent higher at Rs 518 on the BSE on Thursday.
