J&K Bank Q3 net profit at Rs72.47 crore
J&K Bank’s gross NPAs, as a percentage of net loans, by the end of December 2017 fell to 10.08%, as against 11.84% as on 31 December 2016
New Delhi: Jammu & Kashmir Bank on Wednesday reported a net profit of Rs72.47 crore during third quarter ended 31 December 2017.
The bank had reported a net loss of Rs498.47 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%, as against 11.84% as on 31 December 2016, it said in a BSE filing.
Net NPAs or bad loans too fell to 4.29% of the net loans by end of the December from 5.99% in the corresponding year-ago period. In absolute value, the gross NPAs stood at Rs6,232.08 crore against Rs5,714.91 crore while net NPAs were worth Rs2,487.65 crore as against Rs2,699.14 crore.
Total income of the bank was only marginally up at Rs1,790.77 crore during October-December 2017-18, against earnings of Rs1,770.20 crore in the same period of 2016-17. Stock of the bank closed 0.61% up at Rs74.45 on BSE on Wednesday.