J&K Bank Q2 Results: Profit Surges 45% To Rs 551 Crore

J&K Bank on Friday reported a 45% growth in its net profit to Rs 551 crore in the quarter ended September 2024. The bank had earned a net profit of Rs 381 crore in the year-ago period.

Total income rose to Rs 3,420 crore in the quarter under review from Rs 2,954 crore in the same period a year ago, J&K Bank said in a regulatory filing.

Interest income of the bank rose to Rs 3,124 crore in the July-September quarter from Rs 2,764 crore in the second quarter of 2023.

Asset quality of the bank witnessed improvement with gross non-performing assets (NPAs) falling to 3.95% of gross advances at the end of the September quarter of 2024 against 5.26% a year ago.

Net NPAs or bad loans also declined to 0.85% compared to 1.04% in the year-ago period.

Its Capital Adequacy Ratio increased to 14.99% from 14.53% at the end of September 2023.