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Thursday, May 16, 2013

Jammu & Kashmir Bank Q4 net profit up 20% at Rs 250 cr

Jammu & Kashmir Bank registered 20 per cent rise in net profit at Rs 250 crore for its fourth quarter ended March 31, 2013.

The bank had recorded a profit of Rs 208.1 crore in the same period of the previous fiscal, Jammu & Kashmir Bank said in a filing to the BSE.

Total income of the bank rose to Rs 1,835.71 crore in January-March quarter as compared to Rs 1,479.81 crore in the same period during the previous fiscal.

The bank proposed a dividend of 500 per cent, or Rs 50, per share for 2012-2013.

For the entire fiscal, the bank’s net profit increased by 31 per cent at Rs 1,055.10 crore, compared to Rs 803.25 crore in 2011-12.

Total income increased to Rs 6,620.53 crore during the year, compared to Rs 5,169.70 crore in the previous fiscal.

Gross non-performing assets (NPAs), as a proportion of advances, rose to 1.62 per cent at the end of March 2013, as against 1.54 per cent in the previous fiscal. However, net NPAs declined 0.14 per cent during the year from 0.15 per cent at the end of March 2012.

Source: thehindubusinessline


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