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Monday, August 10, 2015

J&K Bank Q1 net rises 22% to Rs. 159 cr

Jammu & Kashmir bank today reported 22 per cent rise in net profit at Rs. 158.76 crore for the first quarter ended June 30, 2015, against Rs. 130.05 crore in the corresponding quarter of previous fiscal.

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


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