J&K Bank Q2 Results: Profit rises 57% to Rs 381 crore

Jammu & Kashmir Bank on Friday reported a 57 per cent jump in net profit to Rs 381 crore for the September quarter on a healthy growth in interest income and a fall in bad loans.

The bank had posted a net profit of Rs 243 crore in the year-ago period.During the quarter, total income rose to Rs 2,954 crore from Rs 2,445 crore a year ago, J&K Bank said in a regulatory filing.

Interest income during the July-September quarter grew to Rs 2,764 crore as against Rs 2,299 crore in the same period a year ago.

Gross non-performing assets (NPAs) were reduced to 5.26 per cent of gross advances as of September 30, 2023 over 7.67 per cent by the end of September 2022.

Net NPAs were also brought down to 1.04 per cent as compared to 2.10 per cent in the same period previous fiscal.