Moneycontrol
Last Updated : Jan 14, 2019 04:21 PM IST | Source: Moneycontrol.com

J&K Bank gains 3% on strong Q3 numbers; profit jumps 43%

Net interest income increased 13 percent year-on-year to Rs 881.63 crore in quarter ended December 2018.

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Shares of Jammu and Kashmir Bank (J&K Bank) ended 3 percent higher on Monday on the back of strong numbers declared by the company for the quarter ended December 2018 (Q3FY19).

The bank has reported a 43 percent year-on-year increase in December quarter profit at Rs 103.75 crore, driven by other income and operating income.

Profit in same quarter last year stood at Rs 72.47 crore.

Net interest income increased 13 percent year-on-year to Rs 881.63 crore in quarter ended December 2018.

Asset quality weakened as gross non-performing assets were higher at 9.94 percent as of December 2018 against 9 percent as of September

2018. Net NPA were also higher at 4.69 percent against 3.91 percent, QoQ.

Other income (non-interest income) grew by 52 percent year-on-year to Rs 163.5 crore and operating profit jumped 11 percent to Rs 425 crore in Q3.

At the end Jammu and Kashmir Bank was quoting at Rs 37.40, up Rs 1.10, or 3.03 percent on the BSE.
First Published on Jan 14, 2019 04:14 pm
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