Tamilnad Mercantile Bank has reported a 44.77 per cent increase in its operating profit to Rs.483.78 crore during the quarter ended December 31, 2012, from Rs.334.18 crore in the year-ago period.

K. B. Nagendra Moorthy, Managing Director and Chief Executive Officer, said in a statement on Saturday that the net profit had also increased from Rs.193.37 crore to Rs.295.23 crore, a rise of 52.68 per cent. The provision coverage ratio was 75.78 per cent as on December 31, 2012.

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