Jammu & Kashmir Bank Third Quarter Results: Jammu & Kashmir Bank Third Quarter Results: Net profit rose 35% year-on-year to Rs 421 crore.

KOLKATA: Jammu & Kashmir Bank on Saturday reported a 35 per cent rise in net profit on a year-on-year basis at Rs 421 crore in the December quarter, driven by net refund of Rs 75 crore on bad loan provisions. Net profit is 31.2 billion won.

Net interest income, which is the difference between accrued interest income and disbursed interest, was 1.28 billion rupees, remaining almost similar to the 1.258 billion rupees in the same period last year. Operating profit also saw an increase in margin at Rs 551 crore against Rs 544 crore.

The bank’s total non-performing asset ratio was 4.84% at the end of 2023, down from 7.25% in the same period last year. Net NPA was 0.83% against 2.08%. Total profit stood at Rs 93,627 crore, up 14% year-on-year.