Q3 result: Private bank results came after market closed – huge increase in profits

Q3 result: Today, on the first day of the week, the stock has registered a gain of more than 3%. Today, it closed at Rs 97.96 with a gain of 3.61%.

Q3 Result: Jammu and Kashmir Bank (J&K Bank) has released its third quarter (Q3) results. According to the exchange filing, the net profit of the bank has increased from Rs 421 crore to Rs 531.5 crore on a year-on-year (YoY) basis.

The bank has registered an increase of about 26% in profit. The net interest income of the bank has also increased. Interest income has increased from Rs 1,280.5 crore to Rs 1,508.6 crore. This improvement indicates strength in the earnings and operational performance of the bank.

Slight increase in NPA

• If we look at the asset quality of the bank, it can become a matter of some concern.
• Gross NPA (Gross Non Performing Assets) increased from 3.95% to 4.08% on a quarter-on-quarter (QoQ) basis.
• Net NPA (Gross Non Performing Assets) has also increased from 0.85% to 0.94%.

What do the figures say?

While the bank has registered strong growth in its profits and income, the increase in NPA indicates that challenges remain regarding lending management. Jammu and Kashmir Bank has performed positively on the income front in Q3

Rise in stock

Today, on the first day of the week, the stock has registered a rise of more than 3 percent. Today it closed at Rs 97.96 with a rise of 3.61%. If we look at the company’s stock return data, the stock has given a profit of 10.73 percent during 1 week, 1.81 percent in 1 month, 1.60 percent in 3 months and about 135 percent during 3 years.