Jammu & Kashmir Bank Q1 profit up 25% at Rs 308 crore

New Delhi, Aug 1: Jammu & Kashmir Bank posted a 25 per cent rise in net profit at Rs 307.92 crore for the first quarter ended June, 2013. The bank had earned net profit of
jammu kashmir bank q1 profit up 25 at rs 308...
PTI 01 Aug 2013, 06:23 PM IST
New Delhi, Aug 1: Jammu & Kashmir Bank posted a 25 per cent rise in net profit at Rs 307.92 crore for the first quarter ended June, 2013.



The bank had earned net profit of Rs 246.09 crore in the April-June quarter of 2012-13.

The total income rose to Rs 1,716.47 crore in the April- June quarter from Rs 1,569.53 crore in the same period last year, Jammu & Kashmir Bank informed the BSE.

As of June 30, 2013, its portfolio quality marginally deteriorated, with gross non-performing assets (NPAs) rising to 1.67 per cent of gross advances as against 1.60 per cent in the same quarter of the previous fiscal.

The bank's net non-performing assets remained flat 0.14 per cent in the review period.

The bank's capital adequacy ratio (CAR) as of June 30 stood at 13.85 per cent.
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