Jammu and kashmir bank released result
The results of Jammu and Kashmir Bank Limited’s (J&K Bank) fourth quarter of March 2024 have been made public.The bank’s profit and net interest income have increased more than before.
Jammu and Kashmir Bank has released its Q4 results. The private bank reported its largest-ever annual profit of Rs. 1,767 crore for the fiscal year 2023–2024, according to exchange filings. When comparing its net profit to the previous financial year, there has been a 48% increase. The bank’s profit in Q4FY24 was Rs. 638.67 crore, up 34% from Rs. 476.33 crore in the same quarter the previous year. Additionally, this is the highest quarterly profit level ever.
Improvement in results ?
There has been an improvement in J&K Bank’s asset quality. In comparison to the 4.08% in the quarter ended December 2023, the bank’s gross non-performing assets (NPA) for the fourth quarter ended March was 4.84%. The net NPA ratio of the bank also fell from 0.83% to 0.79%.
Distribute Performance:
On Friday, J&K Bank’s share price increased by 0.54% to close at Rs. 139.40. The share has increased by 143.71% in the last year, reaching a 52-week high of Rs. 152.50. The main office of the Indian private sector bank Jammu and Kashmir Bank Limited (J&K Bank) is located in Srinagar.
The total income of the bank climbed from Rs. 5,502.09 crore to Rs. 6,029.17 crore, a 10% increase. It turned a profit of Rs. 1,197 crore in the previous fiscal year.
