The bank has announced the results for the July-September quarter of the current financial year. In this quarter, the bank's profit increased by 45 percent to Rs. 551 crores. The bank's profit was Rs 381 crore in the corresponding quarter of last financial year.
In a disclosure to the stock market, the bank said its total income rose to Rs 3,420 crore in the September quarter from Rs 2,954 crore in the same quarter last fiscal. The bank's interest income in the same quarter last fiscal stood at Rs. 2,764 crores to Rs. 3,124 crores.
Let us tell you that the bank's asset quality has improved and gross non-performing assets (NPA) improved to 3.95 per cent of gross debt at the end of the September quarter, as against 5.26 per cent a year ago. Similarly, net NPAs declined to 0.85 percent as against 1.04 percent in the same period a year ago. The Bank's Capital Adequacy Ratio (CAR) increased to 14.99 percent from 14.53 percent at the end of September 2023.
Jammu and Kashmir i.e. J&K Bank shares were in heavy demand on Friday. The stock rose 4.10% to close at Rs 97.70 on the last trading day of the week. A day ago, the bank's share was Rs. 93.85, which during trading was Rs. reached 99.80.
On February 9, 2024, the share was Rs. went to 152.45. The stock is at a 52-week high. Shares on October 23, 2024 Rs. was at 88.20. This is a 52-week low for the stock. In this sense the stock is in recovery mode.
The BSE Sensex closed down 662.87 points at 79,402.29 on the last trading day of the week on Friday. It fell 927.18 points to 79,137.98 during the day's trade. Due to the decline, investors' assets on Friday fell to Rs. 6.80 lakh crore was reduced.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
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