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Aug 07, 2012, 01.54 PM IST
Jammu and Kashmir Bank's net profit rose by 35% year-on-year to Rs 246 crore in the quarter ended June 2012 due to reduction in non-performing assets (NPAs) and provisions.
Net interest income increased 22.65% to Rs 536 crore from Rs 437 crore during the same period. Gross NPAs went up by 6 basis points quarter-on-quarter, but net NPAs declined marginally to 0.14% versus 0.15% QoQ. Gross NPAs stood at Rs 541 crore in the first quarter of FY13 as against Rs 517 crore in the previous quarter. Provisions declined sharply during the quarter to Rs 50.4 crore from Rs 84.3 crore QoQ. Capital adequacy ratio rose by 39 basis points QoQ to 13.75% in the April-June quarter. Net interest margin increased 26 basis points QoQ to 3.86%. At 13:19 hours IST, the share rose 1% to Rs 945.05 on the BSE amid large volumes.
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