Jammu & Kashmir Bank reports 35% rise in Q1 net profit

Jammu & Kashmir Bank has reported results for first quarter ended June 30, 2012.

On standalone basis, the bank has reported a rise of 35.00% in its net profit at Rs 246.09 crore for the quarter, as compared to Rs 182.29 crore for the same quarter in the previous year.  Total income of the bank has increased by 39.77% to Rs 1569.53 crore for the quarter under review as compared to Rs 1122.91 crore for the quarter ended June 30, 2011.

Gross non-performing assets (NPAs) decline to 1.60% in the April-June quarter as against 1.97% in the same quarter previous year while, net NPAs decreased to 0.14%.