The Tamil-Nadu based bank had recorded a net profit at Rs 92.42 crore in the corresponding quarter of the previous year.
For the nine month period ending December 31, 2020 standalone net profit surged to Rs 422.35 crore as against Rs 243.49 crore recorded in the same period last fiscal.
The standalone total income for the quarter ending December 31, 2020 stood at Rs 1,083.45 crore as against Rs 998.91 crore recorded during the same period last fiscal.
Total business for the n
ine month period ending December 31, 2020 was up at Rs 68,101.12 crore, up from Rs 62,544.21 crore clocked during the same period year ago.
The Gross NPA as on December 31, 2020 stood at 3.24 per cent while net NPA was 0.92 per cent.
Briefing reporters, the bank's MD K V Rama Moorthy said TMB has been giving continued thrust on advances to priority sectors like agriculture, micro, small and medium enterprises and housing, constituting 76.57 per cent of its adjusted net bank credit above the regulatory requirement of 40 per cent.
The advances to the priority sector increased to Rs 21,163.85 crore as against Rs 17,866.38 crore registered in the same period last fiscal, Moorthy also the bank's CEO said.
The bank's advances to agriculture sector was Rs 7,812.54 crore, constituting 25.86 per cent of total advances, above the regulatory requirement of 18 per cent.
There was a 14.78 per cent growth in credit to micro, small and medium enterprises sector, from Rs 10,362.56 crore to Rs 11,893. 72 crore, he said.
Referring to the Year-on-Year performance, he said deposits increased to Rs 37,888.62 crore, compared to Rs 35,174.49 crore, registering a growth of 7.72 per cent
The CASA position saw a growth of 16.48 per cent growth to Rs 10,392.94 crore, he said.
The advance level of the bank increased to Rs 30,212.50 crore with a growth of 10.39 per cent and the average growth was 9.85 per cent.
On the network expansion, he said six new ATMs were added in the current fiscal, taking the overall number to 1,162.
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