J&K Bank net up 50% at Rs 208 cr in Q4

Jammu & Kashmir Bank today posted 50.2 per cent jump in net profit at Rs 208.1 crore for the fourth quarter ended March 31, 2012. The bank had a net profit of Rs 138.5 crore in the same period last year.

Total income of the bank increased to Rs 1,479.81 crore in the January-March quarter from Rs 1,132.8 crore in the same period previous year.

The bank has proposed a dividend of Rs 33.50 (335 per cent) per share on face value of Rs 10 for the year 2011—12.

For the year ended March 31, 2012, the bank’s net profit grew by 31 per cent to Rs 803.25 crore, against Rs 615.2 crore in the previous fiscal. Total income of the bank increased to Rs 5,169.70 crore in 2011-12, compared to Rs 4,077.8 crore in the previous fiscal.

Significantly, the gross NPA of the bank as a proportion of advances declined to 1.54 per cent against 1.95 per cent at the end of March last year.

Net NPA also slipped to 0.15 per cent during the year from 0.20 per cent.