However, total income of the bank fell in the first quarter to Rs. 1,888.35 crore as against Rs. 1,899 crore a year ago, because of a higher tax outgo.
The tax expenses during April-June period of current fiscal rose to Rs. 86.68 crore from Rs. 70.70 crore a year ago, the bank said in a BSE filing.
Meanwhile, the asset quality of the bank slipped further as gross non—performing assets (NPAs) were at 6.63 per cent of gross advances as against 4.16 per cent a year earlier.
Net NPAs or bad loans too were higher at 2.95 per cent of net advances as against 2.18 per cent a year ago.
Jammu & Kashmir Bank scrips traded at Rs. 112 a share of BSE, up 2.10 per cent from previous close.
Source : Thehindubusinessline