J&K Bank Q3 net profit at Rs 72.47 cr

Filed under: Business,Today in News |

srinagar:-Jammu & Kashmir Bank on Wednesday reported a net profit of Rs 72.47 crore during third quarter ended December 31, 2017.

The bank had reported a net loss of Rs 498.47 crore in the October-December quarter of 2016-17.

A fall in bad loan proportion helped the bank report profit on its books.

The gross non-performing assets (NPAs) as a percentage of net loans by end of December 2017 fell to 10.08 per cent, as against 11.84 per cent as on December 31, 2016, it said in a BSE filing.

Net NPAs or bad loans too fell to 4.29 per cent of the net loans by end of the December from 5.99 per cent in the corresponding year-ago period.

In absolute value, the gross NPAs stood at Rs 6,232.08 crore against Rs 5,714.91 crore while net NPAs were worth Rs 2,487.65 crore as against Rs 2,699.14 crore.

Total income of the bank was only marginally up at Rs 1,790.77 crore during October-December 2017-18, against earnings of Rs 1,770.20 crore in the same period of 2016-17.

Stock of the bank closed 0.61 per cent up at Rs 74.45 on BSE on Wednesday.

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