NEW DELHI : J&K Bank today reported 12.2 per cent increase in net profit to Rs 302.66 crore for the July-September quarter.
The lender had posted a net profit of Rs 269.53 crore for the same period of last fiscal.
The total income during the quarter increased to Rs 1,749.22 crore, from Rs 1591.51 crore in the year-ago period, J&K Bank said in a filing to the BSE.
Operating profit increased to Rs 496.48 crore in the September quarter, as against Rs 422.58 crore in the same period of the previous fiscal.
During the first half of the curent fiscal, the bank’s net profit declined by 18.4 per cent to Rs 610.56 crore, as against Rs 515.62 crore in H1, 2012-13.
Total income rose to Rs 3,465.89 crore in the first six months of this fiscal from Rs 3,161.04 crore in the year-ago period.
As of September 30, 2013, bank’s portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 1.69 per cent of gross advances, as against 1.59 per cent year a year ago.
Its net non-performing assets during the second quarter rose to 0.19 per cent from 0.16 per cent in the period a year earlier. (AGENCIES)
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