Jammu & Kashmir Bank reports Q2 net profit at Rs 111 cr

By: |
November 12, 2021 5:59 PM

The bank had posted a net profit of Rs 43.93 crore in the year-ago period and a profit of Rs 104.32 crore in Q1 of FY22.

Bank's provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago.Bank's provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago.

Public sector lender Jammu & Kashmir Bank on Friday reported an over two-fold jump in net profit at Rs 111.09 crore in quarter ended September.

The bank had posted a net profit of Rs 43.93 crore in the year-ago period and a profit of Rs 104.32 crore in Q1 of FY22.

Total income of the bank rose to Rs 2,201.26 crore during the July-September period of 2021-22, as against Rs 2,194.47 crore in same period of 2020-21, Jammu & Kashmir Bank (J&K Bank) said in a regulatory filing.

Bank’s provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago.

Even as there was a slight rise in gross non-performing assets (NPA) ratio at 8.95 per cent of the gross advances as of September 30, from 8.87 per cent by end of September last year.

Net NPA was down at 3.02 per cent against 3.03 per cent.

Stock of J&K Bank closed at Rs 45.95 apiece on BSE, up 0.33 per cent over previous close.

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