27 May 2019 | 12:18 AM

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COMPANYNEWS
Jammu & Kashmir Bank Q4 net profit zoomed 656.07% at Rs 214.80 cr
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Published on 05-15-2019
The bank reported standalone net profit of Rs 214.80 crore for the quarter ended March 31 2019 as compared to Rs 28.41 crore in the same period last year registering a year-on-year growth of 656.07 per cent.


Interest income of the bank rose by 30.04 per cent at Rs 2069.90 crore for the quarter ended March 31 2019 as against Rs 1591.68 crore in the corresponding period last year.


During the January-March quarter total income rose substantially by 40.22 per cent to Rs 2473.47 crore from Rs 1763.95 crore in the year ago period.


Meanwhile operating expenses increased by 25.07 per cent to Rs 1872.87 crore from Rs 1497.49 crore in the same period last year.


Operating profit surged 125.40 per cent to Rs 600.60 crore from Rs. 266.46 crore.


Provisions and Contingencies surged by 50.51 per cent at Rs 377.95 crore from Rs 251.11 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits increased by 42.01 per cent at Rs 931.26 crore versus Rs 655.77 crore in the year ago period. Non-interest income rose 134.27 per cent year-on-year to Rs 403.57 crore.


On the asset side gross non- performing assets (NPAs) fell to 8.97 per cent of the gross advances as at the end of March 31 2019 from a level of 9.96 per cent year earlier. Its net NPAs or bad loans too declined to 4.89 per cent of net advances on March 31 2019 from 4.90 per cent a year ago.