Jammu & Kashmir Bank net profit jumps 32% to Rs 30 crore for April-June

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New Delhi: Jammu & Kashmir Bank accounted 32 per cent increase in net profit to Rs 30 crore for the June quarter ended. The bank posted a net profit of Rs 22.88 crore in June quarter 2016.

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The bank further stated in a regulatory filing that, total income of the bank up Rs 1,790.53 crore in June 2017 from Rs 1,789.05 crore in the year before period.

Its gross non-performing assets (NPAs) climbs in June quarter 2017 to 10.79 per cent of gross loans, from 9.31 per cent in the subsequent period previous year.

Net NPAs or bad loans, though came downwards to 4.65 per cent in June 2017 from 6.19 per cent a year before.

Provisions to cover bad loans and contingencies dropped at Rs 278.65 crore for the quarter under review from 313.70 crore year before.

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