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| J&K Bank Q3 profit jumps 36% YoY to Rs 289 cr | | |
Early Times Report
Jammu, Feb 5: Jammu and Kashmir Bank 's (J&K Bank) third quarter net profit rose by 35.7 percent year-on-year to Rs 289.4 crore, sending shares nearly 4 percent higher intraday.
Meanwhile, net interest income jumped 31.8 percent to Rs 594.2 crore from Rs 450.8 crore during the same period.
Gross Non-Performing Asset (NPA) increased to 1.61 percent as against 1.59 percent QoQ whereas net NPA declined to 0.14 percent as against 0.16 percent QoQ.
Provisions against bad loans were Rs 22.4 crore in October-December quarter, up 23 percent compared to Rs 18.2 crore in July-September quarter.
Capital adequacy ratio went up to 13.82 percent from 13.73 percent quarter-on-quarter. Provision coverage ratio stood at 94.21 percent as on December 31.
At 13:43 hours IST, shares moved up 1.5 percent to Rs 1,398.10 amid large volumes on Bombay Stock Exchange.
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