J&K Bank profit increases 35% to Rs 421 crore in December quarter

J&K Bank Q3 results: Private lender J&K Bank’s profit jumped over 35 per cent to Rs 421 crore in the December quarter (Q3FY24), from Rs 311.6 crore in the same quarter a year ago (Q3FY23). 

The bank’s Net Interest Income (NII), the difference between interest earned and interest expended, soared 1.8 per cent to Rs 1,280.4 crore in Q3FY24, from Rs 1,257.4 crore in the same quarter a year ago.

J&K Bank’s Gross Non-performing Assets (GNPAs) improved 6.2 per cent to Rs 4,528.5 crore in the December quarter, from Rs 4,826.7 crore in the September quarter (Q2FY24).

Meanwhile, its Net Non-performing Assets (NNPA) appreciated 19.2 per cent sequentially to Rs 740.8 crore in Q3FY24, from Rs 917.4 crore in Q2FY24.

The shares of J&K Bank settled 3.54 per cent lower at Rs 132.15 per share, when the market closed today, January 20.