Tamilnad Mercantile Bank's Q1 net profit surges 35% to ₹412 crore

•Tamilnad Mercantile Bank's Q1 net profit surged 35% to ₹412 crore, up from ₹305 crore in the same quarter last year.

•Total income rose to ₹1,901 crore, with interest earned improving to ₹1,662 crore.

•Operating profit increased to ₹611 crore, with gross NPAs declining to 0.69% of gross advances.

•The bank plans to open a representative office overseas and spend ₹280 crore on IT infrastructure.