News Details
Category : Company
Headline : Jammu & Kashmir Bank posts Q4 net loss of Rs 294.10 cr
Date: 30/06/2020 10:30
The bank reported standalone net loss during the quarter stood at Rs 294.10 crore compared to net profit of Rs 214.80 crore in the previous year quarter.ÿ

Interest income of the bank rose by 4.16 per cent at Rs 2156.09 crore for the quarter ended March 31, 2020 as against Rs 2069.90 crore in the corresponding period last year.

During the January-March quarter, total income dipped moderately by 7.94 per cent to Rs 2,277.00 crore from Rs 2,473.47 crore in the year ago period.

Meanwhile, operating expenses increased by 1.17 per cent to Rs 1,894.86 crore from Rs 1,872.87 crore in the same period last year.

Operating profit slipped 36.37 per cent to Rs 382.14 crore from Rs. 600.60 crore.

Provisions and Contingencies surged by 64.17 per cent at Rs 620.49 crore from Rs 377.95 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 6.01 per cent at Rs 987.24 crore versus Rs 931.26 crore in the year ago period. Non-interest income dipped 70.04 per cent year-on-year to Rs 120.91 crore.

On the asset side, gross non- performing assets (NPAs)ÿroseÿto 10.97 per cent of the gross advances as at the end of March 31, 2020 from a level of 8.97 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 3.48 per cent of net advances on March 31, 2020 from 4.89 per cent a year ago.